KUALA LUMPUR: Samaiden Group Bhd posted an 8.16 per cent lower net profit for the fourth quarter ended June 30, 2023 (4QFY23) to RM3.13 million from RM3.41 million a year ago.
The company's revenue dropped 15.71 per cent to RM45.24 million from RM53.67 million in the previous year.
In Bursa Malaysia filing, Samaiden attributed the lower revenue to significant work progression of a major project in corresponding quarter in the preceding year.
Samaiden's earnings per share declined to 81 sen from 92 sen from the previous year.
For the cumulative period, Samaiden registered a net profit of RM10.07 million from RM11.93 million a year ago.
Its revenue rose 13.31 per cent to RM170.79 million from RM150.72 million from the previous year, marking the company's highest in history.
Samaiden declared its first-ever interim single-tier dividend of 0.5 sen per share
The company said its sustainable business growth was due to consistent acquisition of new contracts, which contributed to an outstanding orderbook of RM372.8 million as of June 30 2023.
"These contracts are expected to have a positive impact on the group's revenue and profit in the coming years," it said.
Group managing director Chow Pui Hee said strong government support for renewable energy and sustainability aligned Samaiden's vision and mission especially through policies like the National Energy Transition Roadmap and the Bursa Carbon Exchange.
"This synchronicity not only creates significant avenues for business growth but also paves the way for us to contribute actively to the country's transition towards cleaner energy sources.
"With our current and newly acquired contracts, along with these ground-breaking national efforts, we are highly optimistic about the group's performance for the upcoming financial year ending June 30 2024.
"These milestones underline Samaiden's crucial role in Malaysia's ambitious journey towards a more sustainable and greener future," she said.
