KUALA LUMPUR: Varia Bhd
remains cautiously optimistic about future growth in its construction and property development segments, confident in securing more projects and delivering satisfactory results to stakeholders.
The construction and property developer said this optimism is bolstered by strategic initiatives and the positive outlook for Malaysia's construction and property sectors.
Varia posted a net profit of RM1.97mil, or earnings per share of 0.47 sen in the three months ended March 31, up from RM933,000, or 1.39 sen a year ago.
It posted a net profit of RM4.9mil on revenue of RM148.3mil for the 12 months period from April 1, 2023 to March 31, 2024.
The company has made the announcement on the change of its financial year end from March 31 to June 30 to Bursa Malaysia on Nov 23, 2023.
Varia said it has grown and expanded strategically with the acquisition of Pembinaan Teguh Maju Sdn Bhd (PTM), now a fully integrated subsidiary, positioning the group for new opportunities in the construction industry.
“PTM's diversified order book, valued at RM1.10bil, spans sectors from building construction to mechanical and electrical (M&E) projects, poised to enhance Varia's financial performance,” it said.
