KUALA LUMPUR (April 25): Atlan Holdings Bhd’s net profit fell over 42% to RM5.07 million or two sen per share, from RM8.75 million or 3.45 sen per share in the fourth quarter ended Feb 29, 2024 (4QFY2024), as increased revenue was more than offset by higher operating expenses, depreciation and amortisation, as well as finance costs.

Quarterly revenue increased more than 9% to RM128.67 million from RM117.76 million, according to its bourse filing on Thursday.

The group, which mainly engages in duty-free trading of various goods, manufacturing, and marketing of automotive parts, as well as property and hospitality, did not propose or declare any dividends for the period under review.

For the full year ended Feb 29, 2024 (FY2024), earnings dropped 7% to RM20.35 million or 8.02 sen per share, from RM21.9 million or 8.63 sen per share a year ago.

Revenue for the year rose 19% to RM453.56 million, from RM381.26 million.

Despite the lower earnings during the year, the group declared higher dividends of 10 sen per share, compared with four sen per share last year.

Atlan’s shares closed unchanged on Thursday at RM2.73, valuing the company at RM692.47 million, or 28.82 times its trailing 12-month earnings. Over the past one year, the counter had slid 5.86%.