Panda Eco System Bhd has achieved revenue of RM22.9 million and profit after tax (PAT) of RM5.7 million, a surge of 41% and 27%, for its first nine months of the year (9M24).

For its third quarter ended Sept 30, 2024, the group achieved revenue of RM8.1 million and PAT of RM1.6 million.

On that note, the group declared a dividend of 0.5 sen per share, payable on Dec 27, 2024.

Separately, Panda Eco System announced that it would be acquiring the entire equity interests of Gross Synergy Sdn Bhd (GSSB) and Day One Technology Sdn Bhd (DOTSB) for a total consideration of RM17.1 million, to be settled through a combination of cash and issuance of new ordinary shares in Panda Eco System.

The proposed acquisitions come with a two-year profit guarantee, of which the audited profit after taxation of GSSB and DOTSB for the financial year ended Dec 31, 2025 (FY25) and FY26 shall not be less than RM1.4 million in aggregate for each financial year.

Both GSSB and DOTSB are specialised in providing information technology solutions for the retail segment, aligning with Panda Eco System's strategy to enhance its offerings and broaden its customer base.

Moving into the final quarter, Panda Eco System Executive Director and Chief Executive Officer Loo Chee Wee said the group anticipates sustained momentum that will be driven by the festive season and the roll-out of its e-invoicing modules.

"The proposed acquisitions will strengthen our position in the retail segment by expanding our product portfolio and diversifying our customer base.

"Additionally, the group will be able to leverage on the technical expertise and resources of GSSB and DOTSB to assist in the growth of the group's existing business operations," Loo said, adding that the proposed acquisition is set to enhance group revenue and earnings, boosting our financial performance and delivering greater value to our shareholders," he said.