MANAGEMENT DISCUSSION & ANALYSIS
Corporate Overview
Financial Performance Review
RM’ million | 2022 | 2021 | Changes |
Revenue | 16.28 | 14.76 | 10.3% |
Gross Profit | 4.23 | 4.43 | (4.5%) |
(Loss) / Profit Before Tax | (1.55) | 13.01 | (111.3%) |
For the current financial year ended 31 December 2022 (“FYE 2022”), the Group posted revenue of RM16.28 million which was 10.3% higher than the revenue of RM14.76 million for the corresponding period in the preceding year (“FYE 2021”). The higher revenue from the solar energy & related business segment of the Group’s operations in Malaysia is from the effort of the team in securing new solar rooftop projects and other related projects. Gross profit (“GP”) is lower at RM4.23 million, compared to the GP of RM4.43 million in prior year mainly attributed to our projects during current year mainly consist of trading of solar panels which carry a lower GP margin.
Group’s loss before tax for FYE 2022 was RM1.55 million as compared to RM13.01 million profit before tax recorded in FYE2021. The net decrease of RM14.56 million was mainly due to the following: –
2022 (RM’million) |
|
Net increase in profit (inclusive of finance income/cost) | 0.69 |
Decreased in value from Investment in Associate | 17.34 |
Increased in non-essential expenditures | 1.78 |
Increased in gain from dissolution of a subsidiary | 3.86 |
Net decrease in profit before tax | 14.56 |
The Group net profit attributable to shareholders for FYE 2022 was RM0.17 million compared to its preceding year profit of RM8.32 million.
The earnings per share in FYE 2022 is 0.1 sen as compared to 4.4 sen in FYE 2021.
Challenges to Operating Activities
Business Risks