AWC BERHAD announced its full year and fourth quarter financial results with revenue for FY2024 amounting to RM398.8 million, a 5.2% increase from FY2023, marking a new record high for the Group.
The group said the growth was driven primarily by the performance of the Facilities division, primarily through the execution of both concession and non-concession healthcare and commercial contracts. The Environment division benefitted from the ongoing execution of new contracts and successful project completions as revenue remained at above RM100 million for the year. Meanwhile, the Engineering and Rail divisions maintained steady revenue levels, contributing to the Group's overall robust performance.
Profitability for FY2024 saw a significant improvement, with PBT amounting to RM32.5 million, more than doubling the RM11.8 million recorded in FY2023. PAT rose to RM24.6 million, an increase of 152.8% from the previous year, while PATAMI surged to RM19.7 million.
As at 30 June 2024, AWC's balance sheet remained robust. The Group's net cash position stood at RM21.7 million whilst the current ratio stood at an impressive 2.3x as shareholders' funds amounted to RM211.9 million.
The Group's FY2024 orderbook replenishment stood at RM 271 million. This brings the outstanding orderbook to above RM700 million. The Group's tender-book remains healthy, at above RM1 billion.
In recognition of the robust financial performance and to reward shareholders, AWC declared a total dividend of 1 sen per share for FY2024. This included an interim dividend of 0.5 sen declared earlier in the year and an additional 0.5 sen in Q4FY2024.
