According to the Zhitong Finance App, Feini Holdings (08480) announced certain results of the Group's production and energy efficiency division for the first quarter of 2024. The production division's revenue was RM20.8 million, a decrease of RM2 million compared to RM22.8 million for the same quarter of 2023 and the same period. The profit before tax of the production segment was RM3.5 million, an increase of RM2.3 million over RM1.2 million for the same quarter of 2023 and the same period.

The decline in revenue from the production segment was mainly due to the Group's sale of a production plant in China in September 2023, contributing RM3 million to revenue for the same period in 2023. Sales of several products were higher than in the corresponding quarter, thereby mitigating the impact of sales matters.

The Energy Efficiency Division achieved revenue of RM21.6 million, a decrease of RM15.8 million compared to RM37.4 million in the same quarter of 2023 and the same period. The profit before tax of the Energy Efficiency Division was RM1.7 million, a decrease of RM2.8 million compared to RM4.5 million for the same quarter of 2023 and the same period.

The decrease in energy efficiency segment revenue and profit before tax compared to the same quarter of 2023 and the same period was mainly due to a reduction in project bills due to several major projects being completed in 2023.