Techbond Group Berhad, a leading manufacturer of industrial adhesives and sealants, has announced exceptional financial results for the fourth quarter (Q4 FY24) and the full fiscal year ended 30 June 2024 (FY24). The Group achieved record-breaking revenue and net profit, reflecting substantial growth in both top and bottom lines.

For FY24, Techbond's revenue surged to RM151.1 million, a remarkable 38.7% increase from RM108.9 million in the previous year. This growth was driven by strong order flow, recovery in key industries, and contributions from its subsidiary, Malayan Adhesives and Chemicals Sdn Bhd (MAC). This is the first time Techbond's revenue has exceeded RM150 million.

Profit before tax (PBT) for FY24 rose by 59.5% to RM20.4 million from RM12.8 million a year earlier. This figure includes an unrealised foreign exchange loss of RM0.5 million compared to a gain of RM1.4 million last year. Adjusting for this non-cash item, PBT would have increased by 83.3% YoY. Techbond's net profit for FY24 reached RM16.4 million, a 49.0% rise from RM11.0 million in FY23.

Deputy Managing Director, Mr. Lee Seh Meng, expressed satisfaction with the Group's performance amidst macroeconomic uncertainties. He highlighted the sustained demand from customers and the recovery in certain industries as positive indicators for the future. Techbond is also expanding into new markets and enhancing its operational efficiency.

In Q4 FY24, revenue grew by 12.9% YoY to RM38.5 million from RM34.1 million. PBT for the quarter increased by 3.7% YoY to RM6.0 million, despite a smaller increase due to an unrealised foreign exchange gain. Net profit for Q4 FY24 was RM4.9 million, slightly down from RM5.3 million the previous year due to similar exchange rate fluctuations.

Techbond declared a dividend of 0.5 sen per share for FY24, totalling RM2.7 million, which represents a payout ratio of 16.5% of the net profit. The Group has a policy of distributing up to 30% of net profit as dividends.