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Exploring ANEKA's Second Quarter Performance (Q2 FY2024)

LV Trading Diary
Publish date: Tue, 30 Apr 2024, 06:27 PM
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As Malaysia's infrastructure projects gradually commence this year, analysts widely hold a "buy" rating for the construction industry's outlook. Currently, prominent infrastructure projects such as the Penang LRT, MRT 3, and major flood prevention constructions are in the spotlight, with contracts for these projects expected to be awarded in the first half of 2024.

For Aneka Jaringan Holdings Berhad (ANEKA, 0226), specializing in piling and infrastructure construction, the anticipation of securing more projects within the year is high. Today, we aim to share with our readers ANEKA's recently announced performance. Without further ado, let's delve into ANEKA's latest financial performance.

Revenue Comparison (YoY +26.15%, QoQ -7.76%)

For the second quarter ending February 29, 2024, the company's revenue stood at approximately RM54.21 million, representing an increase of about 26.15% compared to around RM42.97 million for the same period last year. This significant growth is attributed to ANEKA's timely completion of ongoing projects and benefits from the construction industry's recovery.

However, compared to the previous quarter (1Q24), the company's revenue decreased by approximately RM4.56 million, a decline of about 7.76%.

Net Profit Comparison (YoY +102.36%, QoQ -90.50%)

In contrast to the net loss incurred during the same period last year, the company demonstrated a turnaround to profitability this quarter, achieving approximately RM0.21 million in net profit. This was primarily due to a significant improvement in the gross profit margin during this quarter.

Nonetheless, compared to the preceding quarter, the company's net profit decreased by approximately RM1.15 million or 90.50%. This was due to a one-time gain from the sale of machinery equipment in the previous quarter.

On another note, it is worth mentioning that the company's cash and cash equivalents increased significantly by approximately 953.26% compared to the same period last year, reaching around RM2.09 million.


ANEKA's Indonesian subsidiary, PT Aneka Jaringan Indonesia (PTAJI), successfully secured an EPCC project valued at approximately RM0.48 million in the second quarter of the 2024 fiscal year.

Furthermore, as of February 29, 2024, ANEKA's existing order book amounts to RM233.16 million. Therefore, management will ensure the timely completion of ongoing projects to enhance operational efficiency and cost management.

In conclusion, management maintains an optimistic outlook for the company's future. Do readers also share the anticipation for the upward trend in the construction industry and ANEKA?


Disclaimer: The above is purely for educational purposes and reflects personal opinions. It does not constitute any buying or selling recommendations.

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