On May 9, Gelonghui | Benjakoda (01665.HK) announced that in the first quarter of 2024, the Group's revenue increased by about 3.3% year-on-year to RM170.7 million. The Group's revenue mainly comes from the ATE and FAS divisions. Each segment accounted for about 42.7% and 57.3% of the Group's total revenue for the quarter.
In the first quarter of 2024, the Group's net profit was RM30.2 million (Q1 2023: RM34.3 million), a decrease of approximately 11.9% from the first quarter of 2023. As a result, the Group's EBITDA (profit before interest, tax, depreciation and amortization) was RM35.3 million in the first quarter of 2024, compared to RM38 million in the first quarter of 2023, a decrease of 7.1%. In the first quarter of 2024, the Group's net profit and EBITDA declined mainly due to increased employee costs and increased R&D costs for single-use medical devices. Basic earnings per share fell from 1.44 cents in the first quarter of 2023 to 1.27 cents in the first quarter of 2024.