Citaglobal's net profit jumps 60% in FY24, declares maiden dividend

KUALA LUMPUR: Citaglobal Bhd is exploring opportunities to enhance contributions from its energy and civil engineering & construction (CEC) segments.

The group is implementing initiatives such as acquisition-driven growth and actively tendering for projects to strengthen its financial performance.

“As many would know, Citaglobal is now in a transitory phase where we are looking to make strong inroads into the renewable energy and telecommunication sectors.

“We remained committed to disciplined execution, seizing high-growth opportunities, and reinforcing our leadership position. With strong fundamentals, a clear vision, and a well-diversified portfolio, Citaglobal is well positioned for long-term success,” chairman & president Tan Sri (Dr) Mohamad Norza Zakaria said in a statement.

In the fourth quarter ended Dec 31, 2024 (4Q24), Citaglobal’s net profit surged to RM6.7mil, or earnings per share of 1.58 sen against RM1.2mil, or 0.29 sen in the year-ago quarter.

Revenue for the quarter jumped 54.6% to RM94.1mil from RM60.8mil posted a year prior.

For the full financial year ended Dec 31, 2024, Citaglobal posted a net profit of RM14.9mil, up 60% from RM9.3mil while revenue rose 42% to RM291.7mil versus RM205.5mil previously.

With the company on a stronger footing, Citaglobal has declared its maiden and final dividend of 1 sen for FY24.