Citaglobal’s 4Q net profit soars, declares one sen dividend

• As of Dec 31, the group's outstanding order book was RM1.1 billion. Meanwhile, its property segment held a remaining gross development value of RM471 million.

KUALA LUMPUR (Feb 26): Citaglobal Bhd’s (KL:CITAGLB) net profit jumped five times to RM6.73 million in its fourth quarter ended Dec 31, 2024 (4QFY2024) from RM1.22 million, driven by strong contributions from the civil engineering & construction (CEC), property and manufacturing segments.

Quarterly revenue swelled nearly 55% to RM94.06 million from RM60.82 million in 4QFY2023, underpinned by growth across all five segments.

The group declared a final dividend of one sen per share for the quarter under review.

For the full year ended Dec 31, 2024 (FY2024), the group’s net profit increased 60% to RM14.89 million from RM9.31 million, while its cumulative revenue surged 42% to RM291.67 million from RM205.5 million.

As of Dec 31, the group's outstanding order book was RM1.1 billion. Meanwhile, its property segment held a remaining gross development value of RM471 million.

Commenting on the group’s prospects, chairman and president Tan Sri Dr Mohamad Norza Zakaria said Citaglobal is making strong inroads into the renewable energy and telecommunication sectors.

The group is embarking on various opportunities to improve the contributions from the energy and CEC segments by instituting several initiatives including acquisition-driven growth and is actively tendering for projects.

“We remained committed to disciplined execution, seizing high-growth opportunities, and reinforcing our leadership position,” he added.

Shares of Citaglobal fell 3.5 sen to close at 78 sen on Wednesday, giving it a market capitalisation of RM331.87 million.

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