Crest Group Berhad (Crest) today released its financial results for the second quarter ended 30 June 2024 (Q2/2024) recording RM3.70 million in profit after tax (PAT) on the back of a revenue of RM39.63 million.
The group's quarterly performance remains healthy with a gross profit margin of 29.1% and a PAT margin of 9.3%.
For the first six-months of 2024, the group registered total revenue of approximately RM79.28 million and PAT of RM6.62 million. Notably, recognised in the first-half were non-recurring one-off listing expenses of approximately RM2.09 million. After adjusting for the listing expenses, the half-yearly PAT would be RM8.71 million.
During the second quarter, the provision of imaging, analytical, and test solutions segment contributed RM32.77 million or 82.7% of total revenue, while the provision of after-sales services segment generated RM6.86 million or 17.3% of total revenue.
Within the first two quarters of 2024, the group's imaging, analytical, and test solutions segment contributed a combined RM64.9 million or 81.9% of total revenue and the after-sales services segment contributed RM14.4 million or 18.1% of total revenue.
Crest's Managing Director, Mr Lim Siong Wai, commented, "We remain optimistic about our long-term prospects, driven by our strong competitive positioning within the industry. The imaging, analysis, and testing market in Malaysia has seen significant growth, expanding from RM4.33 billion in 2020 to RM7.25 billion in 2023, with a compound annual growth rate of 18.7%."
In alignment with the anticipated growth trend, the group plans to open new branch offices in China and Vietnam. In addition, a new centralised headquarters will be established in Selangor to streamline its central region business operations. Also, new investment in advanced imaging and sample management equipment will be undertaken to upgrade its demo room in Malaysia, China and Thailand.
Crest will be officially listed on the ACE Market of Bursa on 9 October 2024.