🔥 $WCT 🔥 Key financial highlights from WCT Holdings Berhad's latest trading update for the financial year ended 31 December 2024 include:
Total revenue increased to RM 1.83 billion, up from RM 1.73 billion in 2023.
Profit from operations rose significantly to RM 381.9 million, recovering from a loss of RM 78.2 million in 2023.
Profit attributable to equity holders surged to RM 277.9 million, compared to a loss of RM 254.1 million the previous year.
Earnings per share improved to 19.04 sen from a loss of 17.93 sen in 2023.
Shareholders’ funds increased to RM 3.30 billion.
Total assets grew to RM 9.11 billion, up from RM 8.67 billion.
Net gearing ratio slightly increased to 0.80 times from 0.73 times.
Return on total assets improved to 3.53% from negative 2.24% in 2023.
These results reflect a strong turnaround with improved profitability and asset growth after prior losses, driven by better performance in property investment & management and property development segments despite challenges in engineering and construction.