SEDANIA Innovator Bhd posted a net profit of RM1.4 million for the fourth quarter ended Dec 31, 2023 (4Q23), over a net loss of RM356,000 in the same period last year, pushing its net profit for the full year to RM5.1 million, a huge jump from RM768,000 last year.
In an exchange filing yesterday, it announced that its 4Q23 revenue was up to RM15 million, up 86% from the year before, mainly contributed from the sustainable healthcare and the fintech segments during the quarter under review.
Its full year revenue was RM49.4 million, a 29% jump from the financial year 2022 (FY22).
Sedania founder/MD Datuk Azrin Mohd Noor said the company remained confident in maintaining its profitability, with significant contributions from the sustainable healthcare and fintech segments in 2024 and beyond.
In its filing, it said its sustainable healthcare subsidiary, operating under the offspring brand, was poised for further expansion into densely populated markets, with a focus on average basket size, broadening customer base and expanding points of sale.
The fintech division, it said it was poised for another promising year as it expands its portfolio of Shariah-compliant fintech solutions for financial services institutions (FSIs). — TMR/pic credit: offspringinc.com