P.A. Resources Berhad ("P.A."), Malaysia's leading aluminium extruder, has announced impressive financial results for the fourth quarter (Q4FYE2024) and the full financial year ended June 30, 2024 (FYE2024).
For the full year, P.A. recorded a revenue of RM564.6 million, marking a 22.4% increase from the previous year. Profit before tax (PBT) grew by 36.7% to RM60.6 million, while profit after tax (PAT) surged by 45.8% to RM45.7 million. The Group also reported a four-year compound annual growth rate (CAGR) of 29.3% in revenue and 49.7% in PAT, highlighting its consistent growth trajectory.
The strong financial performance was primarily driven by the Group's successful capacity expansion, which enabled P.A. to meet higher customer demand. This strategic initiative has reinforced P.A.'s market position and set the stage for future opportunities.
In Q4FYE2024, P.A. achieved a 40.4% increase in revenue, reaching RM146.8 million compared to the same quarter last year. The Group's PBT and PAT for the quarter were RM15.1 million and RM13.3 million, respectively, representing year-on-year increases of 10.8% and 296.9%.
A key highlight of the quarter was the introduction of P.A.'s in-house brand product, the aluminium harvesting pole. With Malaysia being one of the world's leading producers and exporters of palm oil, this product is expected to tap into the strong demand for efficient and durable harvesting tools. The aluminium harvesting pole not only promises improved profit margins but also creates an additional revenue stream, contributing to the Group's overall financial performance.
As of June 30, 2024, P.A.'s balance sheet remained robust, with a cash and bank balance of RM72.5 million, a current ratio of 13.5 times, and zero gearing.
The Board of Directors has declared an interim single-tier dividend of 0.5 sen per share, amounting to RM7.5 million. This brings the total dividend declared for FYE2024 to 1 sen per share.
Commenting on the results, Tan Sri Lau Kuan Kam, Group Managing Director of P.A. Resources Berhad, stated, "The Group has demonstrated consistent growth over the past several years, and FYE2024 continues this trend despite global economic challenges. We achieved a significant milestone by surpassing RM500 million in revenue and securing our largest contract to date, valued at RM1.1 billion from First Solar."
Looking ahead, P.A. plans to further expand its production capacity through the acquisition of industrial lands and the construction of a new plant, which is set to commence production in the coming years. Tan Sri Lau added, "These strategic initiatives underscore our commitment to sustainable, long-term growth and enhancing shareholders' value. We are confident that our solid foundation and strategic vision will elevate P.A. to new heights, ensuring our ongoing success in an evolving market."