EcoBuilt Holdings Bhd (EHB) reported a bigger internet lack of RM23.75 million within the fourth quarter of the monetary 12 months 2023, which ended on Could 31, 2023.
That is in comparison with a internet lack of RM13.04 million in the identical interval a 12 months in the past.
The elevated loss was primarily as a consequence of a nasty debt write-off of RM9.15 million ensuing from an excellent quantity owed by Gabungan Eko Construkt Sdn Bhd.
Moreover, EHB needed to make a provision for an anticipated credit score loss allowance of RM4.36 million associated to commerce and different receivables.
When it comes to income, the corporate skilled a major lower of 26.20% , producing RM33.67 million within the present quarter in comparison with RM45.63 million within the corresponding interval final 12 months.
The loss per share additionally widened to six.10 sen from 3.41 sen beforehand.
Over the cumulative interval, EHB’s internet loss widened to RM30.31 million, in comparison with RM12.10 million a 12 months in the past.
The corporate’s income for the complete monetary 12 months was barely decrease, amounting to RM164.05 million, in comparison with RM166.96 million within the earlier 12 months.
Regardless of the difficult monetary outcomes, EHB stays cautiously optimistic about its prospects.
The corporate is dedicated to staying vigilant and taking well timed actions to deal with any potential dangers. –TMR