By SHAUQI WAHAB
GREATECH Technology Bhd’s (GTB) net profit rose 24% to RM51.6 million for the fourth quarter ended Dec 31, 2024 (4Q24) compared to the same period last year due to strengthening of the US Dollar against the Malaysian Ringgit.
Its revenue rose 33% quarter-on-quarter (qoq) to RM205.8 million in 4Q24, driven by higher revenues in the life sciences, e-mobility, and semiconductor sectors.
The growth was achieved both organically and through strategic acquisitions, including the addition of prominent life sciences customers from Greatech Integration (Ireland) Ltd, it said in a filing at Bursa Malaysia today (Feb 19).
For FY24, the automation solutions for solar, semiconductor and electronics industries company’s net profit was up marginally to RM154.9 million from RM154.3 million in FY23, with revenue also increasing 14% to RM752.3 million.
On prospects, the group plans to invest RM125 million in 2025, including for land acquisition in Batu Kawan, Penang.
GTB reached its 52-week low today, with shares going down 5.15% to RM1.84, giving a market capitalisation of RM4.621 billion.