Gelonghui, on January 28, announced that RIMBACO (01953.HK) reported that for the year ending October 31, 2024, the group's revenue decreased by approximately 43.3% from about 0.5104 billion ringgit in the fiscal year 2023 to about 0.2892 billion ringgit in the fiscal year 2024. This decrease was mainly due to the substantial completion of a large factory project and a commercial project, as well as new projects being smaller in scale or still in the early construction stages. The group's gross margin decreased from about 33.7 million ringgit in the fiscal year 2023 to about 4 million ringgit in the fiscal year 2024. The gross margin percentage dropped from about 6.6% in fiscal year 2023 to about 1.4% in fiscal year 2024, primarily due to a significant narrowing of the large factory project and lower profit margins for several new projects due to price competition. The group reported a loss attributable to company owners of approximately 1.6 million ringgit for the fiscal year 2024 (compared to a profit of about 20 million ringgit in fiscal year 2023), a decrease of approximately 21.6 million ringgit from fiscal year 2023.
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RIMBACO(01953.HK):2024年财年股东应占亏损约为160万令吉
RIMBACO (01953.HK): The loss attributable to shareholders for the fiscal year 2024 is approximately 1.6 million ringgit.
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