Ruiqiang Group (08427) reported revenue of 30.301 million ringgit for the year ended May 31, 2023, an increase of 42.35% over the same period last year. The profit attributable to the company owner was 88000 ringgit, compared with a loss of 1.923 million ringgit and a profit of 0.07 ringgit per share in the same period last year.
It is understood that the Group's turnaround during the period was due to an increase in revenue for the year ended 31 May 2023, an increase in the cost of sales for the year ended 31 May 2023, and the net impact of an increase in administrative expenses incurred by the Group for the year ended 31 May 2023.