T7 Global Bhd - Provision of Engineering, Preparation, Removal and Disposal (EPRD) Services for South Angsi Alpha (SAA) Facilities Decommissioning Project (Client: Hibiscus Oil & Gas (M) Ltd, Dec2022-Nov2024) T7 Global Bhd delivered a revenue of RM176.4 million for the third quarter of the financial year ended 31 December 2024, representing a 28.4% growth year-on-year from RM137.4 million recorded in 2023, as the energy segment is expected to reap recurring contracts and the industrial segment to expand through strategic client engagement, according to a press statement circulated by the company on Wednesday.
For the quarter under review, T7 Global's profit after tax (PAT) grew 71.3% YoY to RM14.2 million, from RM8.3 million previously.
The cumulative year-to-date (YTD, up to September) revenue grew 36.8% YoY to RM458.9 million, from RM335.4 million in 2023. YTD PAT rose 59.0% to RM29.4 million, from RM18.5 million in the previous year.
T7 Global Group Chief Executive Officer (CEO) Tan Kay Zhuin said, "As we look to the future, we are confident in our continued success, especially within our Energy segment, bolstered by the recent award of multiple Pan-Malaysia Maintenance, Construction, and Modification (MCM) and Hook-Up and Commissioning (HUC) contracts. These long-term contracts will provide steady, recurring revenue streams, strengthening our position in the energy sector. Similarly, our Industrial Solutions segment continues to drive growth, with an expanding portfolio and strategic client relationships poised to fuel our momentum."
T7 Global is a leading Energy and Industrial solutions provider with strong presence across Asia serving diverse range of customers in the oil & gas, aerospace and general industries. Over the years, T7 Global has grown organically through smart collaboration with local and internationally renowned companies.
As at 4:47pm Nov 27, T7 Global's stock traded at RM0.51 on a volume of nearly 3.75 million1 units/shares. The current market valuation of RM0.51 is below the 24-month highs around RM0.545 recorded in May this year.
3,749,300 units/shares ︎
