PA Resources group managing director Tan Sri Lau Kuan Kam
KUALA LUMPUR: PA Resources Bhd
posted a revenue of RM564.6mil in FY24, a 22.4% increase over the previous year, while profit after tax (PAT) jumped 45.8% to RM45.7mil.
In a statement, the aluminium extruder firm said the results were largely driven by the successful expansion of capacity, which allowed it to fulfil higher customer demand.
It said the capacity expansion initiative has strategically positioned the group to capitalise on future opportunities and has further reinforced its market position.
In the fourth quarter ended June 30, 2024 (4QFY24), PA Resources posted a 40.4% increase in revenue to RM146.8mil compared to the year-ago quarter.
The groups's PAT came in at RM13.3mil, which represented a 296.9% leap on a year-on-year (y-o-y) basis.
The board of directors declared an interim dividend of 0.5 sen per share, amounting to RM7.5mil, which brings the total dividend payout for FY24 to one sen per share.
As at June 30, 2024, the group’s balance sheet remained healthy with cash and bank balances of RM72.5mil, a current ratio of 13.5 times and zero gearing, after accounting for cash.
Group managing director Tan Sri Lau Kuan Kam said the group has demonstrated consistent growth over the past several years, and FY24 continues this trend despite global economic challenges.
He added that the acquisition of industrial lands and the construction of a new plant, set to commence production in coming years, will substantially increase the group's production capacity and diversify its revenue streams across a broader range of sectors.
"These strategic initiatives underscore our commitment to sustainable, long-term growth and enhancing shareholders’ value.
"We are confident that our solid foundation and strategic vision will elevate PA Resources to new heights and ensuring our ongoing success in an evolving market.”
