Trek2000 International has reported a marginal increase in its FY2023 revenue, increasing from $16.6 million to $16.8 million.
The better turnover is attributed to higher sales from its interactive consumer solution segment.
However, earnings in the same period reached $1.5 million for FY2023, a turnaround from losses of $13.3 million, as the company was able to extract better profit margins by being more selective on project management and cost control.
"With a clear growth plan, we can build on this momentum and increase our market share in the integrated consumer solution and renewables energy business segments," says executive chairman Wayne Tan.
"In renewable energy, with government policies and initiatives globally to facilitate the low-carbon economy transition, Trek is upbeat about the growth of the renewable business segment and will continue with our R&D innovation to expand our products and solutions in this business segment.”
Going forward, Trek2000 plans to continue its growth momentum and intensify its R&D innovation in its core expertise in digital storage, security and the Internet of Things, and
explore opportunities to innovate new solutions in the renewable energy business segment.
See also: Envictus reports profit turnaround with earnings of RM50.6 mil
Trek2000 shares last traded at 6.3 cents, versus its NTA of 12.3 cents.
