T7 Global Berhad (Bursa: 7228), a leading energy solutions provider, has announced impressive financial results for the second quarter of the financial year ending December 31, 2024 (Q2FYE2024). The Group recorded a significant 44.2% increase in revenue, reaching RM150.0 million, and a 102.3% rise in profit before tax (PBT) to RM17.8 million compared to the same quarter last year.

For the cumulative first half of the year (1HFYE2024), T7 Global reported revenue of RM282.6 million, up by 42.7% year-on-year, and PBT of RM23.7 million, a growth of 38.6%. The Group's profit after tax and minority interest (PATAMI) also saw a substantial increase of 42.1%, reaching RM15.2 million for the first six months.

This robust performance was driven by strong growth in both the energy and industrial solution segments, which recorded revenue increases of 42.8% and 42.4%, respectively.

Tan Kay Zhuin, Group Chief Executive Officer of T7 Global, expressed confidence in the continued success of these segments. "We are pleased to announce the robust financial performance for Q2FYE2024, reflecting the resilience of our energy segment and industrial solution segment. We are confident these two segments will continue to drive the Group's performance, supported by multiple projects currently in the pipeline."

Looking ahead, T7 Global remains optimistic about its prospects, particularly in the energy segment, where two Mobile Offshore Production Units (MOPUs) are expected to contribute significantly to the Group's performance. Additionally, in the industrial solution segment, the company is focused on its airport baggage handling system project and a recently secured airfield surveillance radar systems contract from the Ministry of Defence. These projects are set to reinforce T7 Global's position as a leading integrated solutions provider.

The Group's strong financial results underline its strategic positioning and ongoing commitment to delivering value across its key business segments.