BANGI, March 21 – Genetec Technology Berhad, a leading provider of customized intelligent manufacturing automation solutions, announces robust performance for the third quarter of the financial year 2024 (Q3FY2024), underscoring its resilience and strategic positioning in the market. With a revenue of RM76.9 million and margins reaching high double-digits, the company demonstrates significant growth across key financial indicators.
Despite a year-on-year decrease in revenue compared to Q3FY2023, Genetec’s profit before tax (PBT) and profit after tax (PAT) surged to RM25.2 million and RM22.9 million, respectively, reflecting a notable increase from the previous year. The company attributes this success to its emphasis on product innovation, business development efforts, and robust performance in its Electric Vehicle (EV) and Energy Storage segments, which continue to be its primary revenue drivers.
Chin Kem Weng, Co-founder and Managing Director of Genetec, expressed confidence in the company’s trajectory, citing sustained momentum into 2024. He highlighted the team’s dedication to securing new leads, particularly in renewable energy, and emphasized Genetec’s role as a key player in the shift towards clean energy and electric vehicles. With a strong foundation in place and optimistic market projections, Genetec remains poised for continued growth and success in the evolving landscape of intelligent automation and renewable energy solutions.
