KUALA LUMPUR: Aneka Jaringan Holdings Bhd, a basement and foundation construction specialist, posted a net profit of RM1.28 million for the first quarter (Q1) ended Nov 30, 2023 from a net loss of RM4.39 million a year ago.
The company generated a revenue of RM58.78 million in Q1, an increase of RM5.94 million or 11.23 per cent over the RM52.85 million recorded a year ago.
The growth was mainly due to the increase in jobs for the period.
The quarter marks the second consecutive period of profitability for Aneka Jaringan.
Managing director Pang Tse Fui said the company's performance not only showed its ability to adapt and thrive in challenging market conditions but also marked a significant milestone in its recovery plan.
Pang said the company was particularly encouraged by PT Aneka Jaringan Indonesia's growth in Indonesia.
"The progress made in recent quarters lays a solid foundation for our continued recovery and sustainable growth as we have recorded profit for two consecutive quarters.
As of Q1, Aneka Jaringan's total order book grew substantially to RM253.59 million, with Malaysian operations contributing RM227.69 million and a notable increase from Indonesian operations contributing RM25.90 million.