Atlan Holdings Bhd reported a 9.48% increase in net profit to RM6.47 million in the third quarter ended November 30, 2023 (3Q24).
The growth was fueled by higher revenue in the automotive segment, leading to a 19.12% rise in quarterly revenue to RM117.19 million.
Its automotive segment's profit before tax surged by 53.1%, while the duty-free segment experienced a lower profit before tax due to a decrease in revenue.
For the nine-month period, Atlan achieved a net profit of RM15.28 million, marking a 16.23% increase from RM13.14 million in 9MFY2023.
Additionally, the group declared a second interim dividend of 4 sen, payable on February 22.
The company anticipates a challenging business environment ahead, citing escalating product and operating costs, inflationary pressures, and a cautious approach to consumer spending.
Despite these challenges, Atlan remains committed to enhancing operational efficiency and effectiveness, implementing stringent cost control measures, and navigating the evolving business landscape.
Shares in Atlan settled unchanged at RM2.77 today, with a market capitalisation of RM702.61 million.