Aspen Group reports 1HFY2024 earnings of RM94.6 mil

• This brought earnings per share (EPS) from continuing operations to 9.41 sen, while losses per share for discontinued operations came to 0.67 sen.

SINGAPORE (Feb 13): Aspen Group Holdings has reported earnings of RM94.6 million for the 1HFY2024 ended Dec 31, 2023, compared to its earnings of RM3.9 million for the corresponding period last year.

This brought earnings per share (EPS) from continuing operations to 9.41 sen, while losses per share for discontinued operations came to 0.67 sen.

Revenue from continuing operations for the half-year period was RM146.2 million, a 1% decrease y-o-y compared to 1HFY2023, while cost of sales decreased 4% y-o-y to RM117.4 million.

Gross profit increased 15% y-o-y to RM28.8 million in 1HFY2024 due to completed projects.

Meanwhile, the company’s operating activities recorded a profit of RM103.5 million for 1HFY2024 compared to RM1.7 million for 1HFY2023 due to gains of RM98.0 million arising from the deconsolidation of its subsidiary Aspen Glove Sdn. Bhd.

The company’s disposal of its equity interest and redeemable preference shares in Global Vision Logistics in August last year for RM32.9 million also contributed to the earnings increase.

As at Dec 31, 2023, cash and cash equivalents stood at RM15.0 million.

Shares in Aspen closed 0.1 cent higher or 2.27% up at 4.5 cents on Feb 13.

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