EPB Group Berhad announce its financial results for the second quarter of the financial year recording a revenue of approximately RM21.13 million, contributing to a total revenue of approximately RM39.21 million for the six-month period ended 30 June 2024. The Q2 revenue represents a 16.79% increase compared to RM18.09 million in the preceding quarter.

The rise it said was driven by higher delivery of customer orders across all business segments, including food processing and packaging machinery solutions, trading of cellulose casings, and the manufacturing and trading of flexible packaging materials.

The Group registered Profit Before Tax of RM3.45 million for Q2 FY2024, marking a significant increase of 88.22% compared to RM1.83 million in Q1 FY2024. Similarly, Profit After Tax for the quarter stood at RM2.57 million, nearly doubled as compared to the preceding quarter with a 99.77% increase from RM1.29 million in the preceding quarter.

The improvement in profitability was primarily attributed to the higher revenue achieved during the quarter, along with improved gross profit and increased other income, which included the higher reversal of allowance for impairment loss on trade receivables upon collection of outstanding balances from customers.

Looking forward, EPB remains optimistic about the prospects for the second half of FY2024. The Group anticipates the completion of ongoing projects in the latter half of the year will contribute positively to the overall performance of the Group.