KUALA LUMPUR (Feb 20): PMB Technology Bhd (KL:PMBTECH) posted a 54.3% rise in net profit for the fourth quarter, thanks to a one-off land disposal gain.

Net profit for the three months ended Dec 31, 2024 (FY2024) rose to RM48.23 million from RM31.26 million in the same period a year earlier, as revenue slipped 9.9% to RM174.87 million versus RM194.12 million previously, according to the aluminium product manufacturer’s bourse filing on Thursday.

Despite the lower revenue, PMB Tech’s bottomline was carried by a RM54.8 million gain recognised from a disposal of land completed in October 2024.

The lower revenue was attributed to lower contribution from its metallic silicon plant under its manufacturing and trading segment.

No dividend was declared for the quarter.

For the financial year ended Dec 31, 2024 (FY2024), PMB Tech’s net profit rose 36.6% to RM61.13 million from RM44.75 million in FY2023, while revenue slipped 8.8% to RM902.35 million compared with RM989.58 million previously.

Looking forward, PMB Tech said the group will continue to focus its efforts on strengthening its capabilities to deliver a better value proposition to its customers.

Shares in PMB Tech ended two sen or 1.2% lower at RM1.64, valuing the group at RM3.11 billion.