Building materials maker Ajiya’s 4Q profit jumps 169% on gain from other investments

• “Moving forward, the group will continue with its efforts in making its operations more efficient and undertake various measures to reduce operating costs and improve its revenue for sustainable long-term growth.”

KUALA LUMPUR (Jan 31): Ajiya Bhd’s net profit jumped 169.3% to RM9.48 million for its fourth quarter ended Nov 30, 2022 (4QFY2022), from RM3.52 million a year earlier, due mainly to realised and unrealised gain from other investments.

Earnings per share rose to 3.29 sen from 1.2 sen, according to the building materials manufacturer's bourse filing yesterday.

Revenue, however, was down 17.7% to RM74.17 million from RM90.16 million as demand for the group's products was lower, said Ajiya.

For the full financial year, net profit was up 66% to RM29.06 million from RM17.51 million in FY2021, as revenue rose 9.5% to RM294.05 million from RM268.51 million.

“Moving forward, the group will continue with its efforts in making its operations more efficient and undertake various measures to reduce operating costs and improve its revenue for sustainable long-term growth,” said the group.