KUALA LUMPUR: Total door system solution provider Econframe Bhd registered a lower net profit of RM1.47 million in the third quarter ended May 31, 2024 (3Q24) from RM3.51 million a year ago.
This was dragged by the amortisation of intangible assets, Econframe said.
Its quarterly revenue, however, increased to RM24.94 million from RM19.59 million previously, mainly contributed by its manufacturing segment.
The company's earnings per share fell to 0.42 sen from 1.04 sen in 3Q23, its filing to Bursa Malaysia showed.
For the cumulative period of nine months, Econframe's net profit rose to RM9.24 million from RM9 million a year ago, while revenue jumped to RM79.11 million from RM54.89 million previously.
The strong nine-month performance was driven by sustained demand and contribution from its aluminium glazing and façade works business, Lee and Yong Aluminium Sdn Bhd (LYASB).
Econframe group managing director Lim Chin Horng said the company remains upbeat on its outlook and continues to see vast opportunities in both the doors and aluminium sectors.
"We secured new projects that enhanced our order book giving us healthy earnings visibility. "This enables us to steadily replenish our order book to maintain it at healthy levels," he said in a separate statement.
Lim also said the company further capitalised on the strong synergies with LYASB as it had secured more jobs by leveraging on Econframe's network.
LYASB's ongoing capacity expansion plans will enable it to fulfil the pent-up orders.