Aneka Jaringan Holdings Bhd's fourth quarter ended Aug 31, 2024 (4Q24), profit after tax (PAT) saw a remarkable 428.9% surge to RM1.87 million compared to RM0.35 million in 4Q23, underscoring a successful turnaround, improved project margins and disciplined cost control despite a one-off impairment and write-off on contract assets amounting to RM2.19 million.

Gross profit also rose slightly to RM7.85 million, attributed to enhanced cost management and project optimisation.

The group also reported a revenue of RM56.63 million in 4Q24, a 9.9% increase, compared to RM51.52 million in 4Q23.

For the full financial year ended Aug 31, 2024 (FY24), Aneka Jaringan achieved a total revenue of RM211.48 million, an 11.3% increase, from RM189.93 million in FY23.

The group's gross profit more than doubled, reaching RM19.98 million compared to RM9.08 million in the previous year, driven by effective project delivery and enhanced operational efficiencies. Aneka Jaringan recorded a PAT of RM4.35 million, a significant turnaround from a loss after tax of RM12.43 million in FY23.

Aneka Jaringan further strengthened its order book with major project wins, including an RM12.9 million contract from Totalbuildz Sdn Bhd for the Hanaz @ Jalan Mayang project and an RM53 million contract from Grand Dynamic Builders Sdn Bhd for the construction of a new logistic hub in Shah Alam.

As of Aug 31, 2024, the group's order book stands at RM240.08 million, setting a strong foundation for sustained growth into the next financial year.

Looking ahead, the group remains optimistic about the prospects for FY25, with plans to actively bid for high-value contracts to replenish its order book and maintain a healthy project pipeline.

The management is closely monitoring domestic and international developments, particularly fluctuations in material prices, and will take necessary actions to mitigate potential risks.