Master Tec Group has posted the highest revenue for the group when it reported a revenue of RM87.6 million for the third quarter ended Sept 30, 2024 (3Q24).
The 20.3% surge in 3Q24 revenue was driven by robust demand for low-voltage power cables and steady growth in both local and export markets.
For the quarter under review, Master Tec also recorded a gross profit of RM9.9 million and profit after tax (PAT) of RM6 million.
However, the group's profit before tax (PBT) of RM7 million recorded a slight dip of 10.7% or RM1.72 million and it was primarily due to lower administrative expenses in 2Q24 that was related to IPO costs. Excluding these non-recurring IPO expenses, the current quarter's PBT would be comparable to the previous quarter.
As for the cumulative nine-month period ending Sept 30, 2024, the group reported total revenue of RM227.6 million, gross profit of RM28.1 million, PBT of RM20.9 million and PAT of RM19.7 million, highlighting Master Tec's ability to capture demand effectively and maintain solid margins amid a competitive market.
Looking ahead, Master Tec is well-positioned to benefit from Malaysia's public infrastructure-focused Budget 2025, which allocates RM16 billion for upgrading the national grid and RM300 million for the National Energy Transition Facility.
Furthermore, the completed acquisition of a 51% equity interest in Sediacom Sdn Bhd on Oct 23, 2025, is expected to enhance the group's ability to capitalise on these expanding opportunities within the power infrastructure sector, paving the way for sustained growth and increased market share.
In recognition of the group's strong financial performance, the group has declared a second interim single-tier dividend of 0.18 sen per ordinary share for the financial year ending Dec 31, 2024. The dividend is payable on Dec 16, 2024, with an entitlement date on Dec 3, 2024.
Master Tec's share price closed on Nov 18 at RM1.22, reflecting a market capitalisation of RM1.24 billion.
