Able Global Berhad ("AGB" or "the Group"), an investment holding company primarily involved in tin cans manufacturing, Food & Beverages ("F&B"), and property development has announced its financial results for the fourth quarter ended 31 December 2024 ("Q4FY2024"). The Group concludes its FYE 2024 with an impressive record-high revenue and profits with the current year's Cumulative Profit After Tax ("12M PAT") which rose from RM51.86 million to RM68.99 million, compared to the preceding year, achieving 33.0% year-on-year (“YoY”) increase. This was supported by the highest revenue on record of RM729.20 million in FYE 2024.
For Q4FY2024, AGB recorded a revenue of RM184.80 million, marking a 9.4% increase from RM168.93 million in the corresponding quarter of the previous year ("Q4FY2023"). The rise in revenue was driven by strong sales demand from F&B customers and contributions from the progressive work of AGB’s existing Kapar Land. Segmentally, the Group’s revenue remained resilient across its core businesses, with the F&B segment continuing to be the major revenue contributor. Revenue contributions for Q4FY2024 were RM25.96 million from tin cans manufacturing, RM151.90 million from F&B, and RM6.94 million from property development.
In terms of profitability, AGB achieved a Profit Before Tax ("PBT") of RM23.75 million, while Profit After Tax ("PAT") increased to RM18.12 million, compared to RM17.74 million in the preceding quarter.
Commenting on the results, the Management stated that despite the challenging business environment, the profitability of the tin cans manufacturing segment is expected to remain stable. The Management added, “The global demand for dairy remains healthy as most raw material prices have remained stable in this quarter under review. Therefore, the F&B segment is expected to continue to be profitable. Additionally, for the land at Kapar, the Group has commenced infrastructure work, and the progressive development is expected to contribute to AGB’s revenue.”
The Board of Directors is pleased to declare a fourth interim dividend of 1.5 sen per ordinary share for the financial year ended 31 December 2024. The date of payment and book closure for the interim dividend will be determined at a later date.
