MCE Holdings announced its financial results for the third quarter ended 30 April 2024 (“3Q FY2024”) with the group achieving a revenue of RM37.4 million which was lower by 4.9% compared to RM39.3 million in the similar quarter of the preceding year. Profit after tax and minority interest for the quarter closed at RM2.4 million compared to RM4.7 million in 3Q FY2023.
The group said this was predominantly attributable to higher operating expenses and higher effective tax rates. For the nine months ended 30 April 2024, the Group achieved revenue of RM118.7 million and net profit of RM11.8 million.
Group Managing Director of MCE, Dr Goh Kar Chun, said: “Our performance for the third quarter was impacted by two major festive holidays, which resulted in fewer working days. The comparative period of the preceding year was also a higher base caused by increased car bookings before the exemption of SST, which ended in March 2023.
The construction of its state-of-the-art plant in Serendah is expected to contribute post 2025, the new facility is also seen to more than double its production capacity.
