TIMBER-BASED Auro Holdings Bhd (previously NWP Holdings Bhd) has made a commendable monetary turnaround in its first quarter ended Might 31, 2023 (1Q FY2/2024).
Demonstrating resilience and sturdy technique, the group not solely showcased a 143% income development from the earlier yr to RM1.69 mil (1Q FY2/2023: RM697,000) but additionally returned to the black albeit with a meagre internet earnings of RM42,000 which however is a pointy distinction from the online lack of RM2.75 mil in the identical interval final yr.
“Our spectacular monetary achievement mirrors our staff’s dedication and the strategic choices we have now undertaken. The turnaround in our monetary efficiency was primarily attributed to our newly commenced sand enterprise,” commented Auro Holding’s government director Tan Jyy Yeen.
The enterprise into the sand enterprise has spurred the group’s turnaround because it permits Auro Holding’s to generate extra income and earnings. The group began its operations within the sand enterprise in March this yr.
With a watch on the horizon, the group underwent a metamorphosis, re-branding from NWP Holdings to Auro Holdings.
“Auro is just not merely a brand new identify; it embodies our renewed imaginative and prescient and route for the longer term. As Auro Holdings charts its course ahead, it stays laser-focused on strengthening and increasing its enterprise,” Jyy Yeen identified.
She added that the group’s journey remains to be in its early levels whilst it’s excited to cement its presence within the business by leveraging strategic alternatives to ship sustainable development for its shareholders.
On this notice, the group will proceed to discover different alternatives to develop its enterprise, together with potential mergers and acquisitions (M&As), in response to its chairman Datuk Tan Lik Houe.
“Within the quickly altering panorama of immediately’s industries, it’s important to adapt and search out avenues for development repeatedly,” he justified.
“We’re exploring strategic M&As to diversify our income sources and to faucet into new alternatives. These M&A endeavours aren’t merely about growth however underscore our dedication to innovation, our skill to foresee market tendencies and our intention to supply unmatched worth to our stakeholders.”
Added Lik Houe: “We’re poised to leverage these alternatives not only for development however to cement our place as a forward-thinking, values-driven organisation available in the market.”
On the shut of immediately’s market buying and selling, Auro Holdings was unchanged at 17 sen with 507,100 shares traded, thus valuing the corporate at RM98 mil. – July 27, 2023