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BUSINESS • 18/02/2025 07:04 PM

Greatech Technology's Net Profit Improves To RM154.99 Mln In FY2024

KUALA LUMPUR, Feb 18 (Bernama) -- Greatech Technology Bhd's net profit rose marginally to RM154.99 million in the financial year ended Dec 31, 2024 (FY2024) from RM154.36 million in FY2023.

Revenue increased by 14.21 per cent to RM752.37 million from RM658.75 million previously, the company said in a filing with Bursa Malaysia.

“This revenue growth was largely propelled by a strong performance in the life sciences sector, driven by the development of cutting-edge medical technology systems,” it said.

Greatech noted that the growth was achieved both organically and through strategic acquisitions, including the addition of prominent life sciences customers from Greatech Integration (Ireland) Ltd.

For the fourth quarter of FY2024 (4Q), net profit improved to RM51.62 million from RM41.54 million in 4Q a year ago.

Revenue in the period reviewed increased by 33.11 per cent to RM205.84 million from RM154.64 million previously.

For 2025, Greatech said the company remains optimistic about its growth prospects and is well-positioned in the high-potential sectors such as clean energy, electric vehicles, and life sciences, which exhibit long-term potential.

“Moving forward, the group will continue to prioritise effective management of project costs and expenses, while enhancing supply chain efficiencies and capitalising on synergies arising from mergers and acquisitions,” it said. 

As at Feb 12, 2025, the company’s outstanding order book stood at approximately RM785 million and is expected to last until the first half of 2026.

-- BERNAMA

 

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