Wentel Engineering Holdings Berhad has achieved a surge in Profit Before Tax for its first quarter ended 31 March, with a 34.49% quarter-on-quarter growth.
Core PBT increased from RM 4.48 million in the preceding quarter to RM 6.03 million in Q1FY2024.The sequential quarterly improvement was attributable to the improvement in the Company’s gross profit margin which stood at 27.28% as compared to 24.64% registered in Q4FY2023.
The Company recorded a revenue of RM25.77 million, mainly attributable to the fabrication of semi-finished metal products, contributing approximately 79.62% of the total revenue for the current financial quarter under review.
Approximately RM71.03 million in gross proceeds were raised from the IPO, enabling the Company to fund the next phase of its business expansion. Wentel Engineering has allocated 56.31% of the proceeds to partially finance the construction of its new manufacturing plant and 35.24% to partially finance the purchase of new machinery and equipment. The remaining proceeds to cover listing-related expenses.
The new manufacturing plant in Johor Bahru is targeted to commence operations in the first half of 2026, which is expected to substantially enhance production capacity. The new facility, spanning 426,074 square feet, is designed for fabricating semifinished metal products, fabricating metal parts, and assembly operations, which is expected to boost production capacity and accommodate more orders. The facility will include two single-story factory blocks with double-story offices and two blocks of workers’ hostels, totalling a built-up area of 299,701 square fee
