Ingenieu latest QR Summary

Summary of Ingenieur Gudang Berhad's Q2FY2024 Performance

Financial Performance
1. **Revenue and Profit Growth:**
- The Group reported a significant increase in revenue to RM12.29 million for Q2FY2024, compared to RM4.57 million in Q2FY2023.
- Profit before tax (PBT) also saw a dramatic rise to RM6.60 million from RM0.23 million in the same period last year.

2. **Segment Performance:**
- **Construction:** This segment drove the revenue increase, contributing RM11.41 million, a 202% increase from RM3.78 million in Q2FY2023. The PBT for this segment was RM5.27 million, up from RM0.32 million.
- **Property Investment and Others:** Contributed RM0.88 million to revenue, a slight increase from RM0.80 million in Q2FY2023, with a PBT of RM1.33 million compared to a loss of RM0.08 million in the previous year.

3. **Quarterly Comparison:**
- Compared to the preceding quarter (Q1FY2024), the Group's revenue increased from RM7.44 million to RM12.29 million, while PBT rose from RM1.45 million to RM6.60 million.

#### Financial Position

1. **Assets and Liabilities:**
- **Total Assets:** As of 31 May 2024, the Group’s total assets were RM229.96 million, slightly down from RM242.01 million as of 30 November 2023.
- **Equity:** Total equity increased to RM176.40 million from RM166.01 million in the same period.
- **Liabilities:** Total liabilities decreased to RM53.55 million from RM75.99 million.

2. **Cash Flow:**
- The Group reported a decrease in cash and cash equivalents to RM2.16 million from RM3.67 million at the beginning of the period.

Strategic Outlook
- **Construction Segment:** The Group plans to continue bidding for new contracts to improve its order book and revenue, focusing on timely project execution.
- **Property Investment:** The Group aims to achieve better tenancy levels and rental yields, identifying strategic real estate investments for consistent returns.

### Conclusion
Ingenieur Gudang Berhad has shown strong financial performance with significant revenue and profit growth in Q2FY2024, primarily driven by its construction segment. The increase in equity and the strategic outlook for continued growth in both construction and property investment segments suggest a positive trajectory. Despite a decrease in total assets and cash reserves, the reduction in liabilities and the strong increase in PBT indicate a robust financial health.

Given these factors, the company appears to be a promising investment opportunity, especially considering its strategic plans for growth and the substantial improvements in its financial performance.