Industrialised building systems specialist, Sarawak Consolidated Industries Berhad (SCIB), celebrates a significant milestone in its first quarter of financial year 2024 (1QFY24) financial results.

Demonstrating a remarkable turnaround, SCIB has not only boosted its revenue but also transitioned into profitability, a testament to the strategic acumen and diligent efforts of its management team.

The group announced a robust revenue of RM39.4 million for the quarter, a stellar 30 per cent increase from the RM30.3 million recorded in the same period last year.

This strong performance is further accentuated by a profit before tax (PBT) of RM2.1 million, a remarkable recovery from the loss of RM0.9 million in the corresponding quarter of the preceding fiscal year.

The manufacturing division, the cornerstone of SCIB's success, reported a revenue of RM29.6 million and a PBT of RM4.2 million. This is a significant uplift from the RM24.2 million in revenue and RM1 million in PBT seen in the same quarter of the previous year, driven by increased sales volume of foundation piles and enhanced profit margins.

In the Construction/EPCC segment, the company registered revenue of RM9.8 million, a positive development attributed to ongoing road maintenance and school projects, despite a marginal loss before tax (LBT) of RM0.3 million, primarily due to higher expenditures.

Ku Chong Hong, managing director of SCIB said, “Looking forward, we are excited about the prospects and opportunities that lie ahead, especially with Malaysia's economic resurgence and the initiation of substantial infrastructure projects.

“SCIB is fully committed to capitalising on these opportunities to create lasting value for our stakeholders.”

SCIB's strategic moves, including the recent memoranda of understanding (MOUs) with Irix Sdn Bhd and PT MRT Jakarta and securing Islamic banking facilities of RM34 million, are propelling the Company towards new horizons of growth.