Sedania's net profit triples to RM1.56mil in 2Q

KUALA LUMPUR: Sedania Innovator Bhd posted a net profit of RM1.56mil in the second quarter ended June 30, 2023, which was three times the earnings of RM530,000 recorded in the same quarter in 2022.

During the quarter under review, the ESG-enabler's revenue rose to RM12.17mil from RM9.08mil in the comparative quarter.

For the first half of 2023, the group's net profit rose to RM2.97mil, from RM813,000 in the year-ago period while revenue increased to RM23.83mil from RM18.12mil.

According to Sedania founder and managing director Datuk Azrin Mohd Noor, the results put it on track to migrate to the Main Market of Bursa Malaysia in the next two years, barring unforeseen circumstances.

He added that the group’s sustainable healthcare segment will continue to drive its business forward as it ventures into new highly populous countries with its Offspring brand, which is now

present in 26 countries.

In 2QFY23, the sustainable healthcare segment registered a higher topline of RM7.6mil backed by increased demand for its range of eco-friendly healthcare products across key international markets in Asia and Europe.

Meanwhile, Sedania’s fintech segment recorded the biggest revenue growth, surging 50.7% year-on-year to RM1.8mil in 2QFYE23 while the sustainable energy segment showed a marked improvement, with its revenue jumping manifold to RM2.4mil in 2QFY23 from RM100,000 a year earlier.

Read the full online article.