EPB Group Berhad has announced its financial results for the second quarter of the financial year ending 31 December 2024. In Q2 FY2024, the Group recorded a revenue of approximately RM21.13 million, contributing to a total revenue of approximately RM39.21 million for the six-month period ended 30 June 2024. This represents a 16.79% increase compared to the preceding quarter, driven by higher delivery of customer orders across all business segments.
The Group registered a Profit Before Tax of RM3.45 million for Q2 FY2024, marking an 88.22% increase compared to the previous quarter. Profit After Tax for the quarter stood at RM2.57 million, nearly doubling from the preceding quarter. The improved profitability was attributed to higher revenue and improved gross profit.
Mr. Yeoh Chee Min, Managing Director of EPB Group Berhad, expressed confidence in the Group’s performance and outlook, citing a robust order book of RM97.48 million as at 31 July 2024. The company anticipates continued growth, supported by larger projects and a positive response to its IPO.
The food processing machinery industry in Malaysia is projected to grow at a compound annual growth rate of 10.4% from 2024 to 2028, reaching an estimated market size of RM2.84 billion in 2028. EPB is well-positioned to capitalize on this growth through strategic initiatives and innovation.
EPB is proceeding with its expansion plan, including the development of a new corporate office and factory in Penang. This facility will enhance production capabilities and showcase product offerings. Additionally, the company plans to integrate robotic technology in its solutions, aiming to lead in industry innovation.
Looking ahead, EPB remains optimistic about the prospects for the second half of FY2024, expecting completion of ongoing projects to positively impact overall performance. The Group is poised to leverage growth opportunities in the food processing machinery sector and create value for stakeholders.