KUALA LUMPUR (Feb 13): Mega Fortris Bhd (KL:MEGAFB), which debuted on Bursa Malaysia in November last year, reported a net profit of RM5.61 million for the second quarter ended Dec 31, 2024 (2QFY2025).

Its net profit for the latest quarter translates to earnings per share (EPS) of 0.66 sen, lower than the 1.18 sen recorded in the preceding quarter ended September 2024, when the group notched a net profit of RM8.23 million.

However, after adjusting for one-off expenses incurred in the current quarter, the group’s normalised profit after tax stood at RM9.44 million.

The security seal manufacturing company’s revenue for 2QFY2025 was 12.1% higher at RM55.1 million, compared with RM49.16 million in the preceding quarter, as it recorded higher selling prices as well as quantity of products sold.

For the cumulative six-month period ended Dec 31, 2024 (6MFY2025), Mega Fortris recorded a net profit of RM13.84 million, translating to EPS of 1.64 sen over cumulative revenue of RM104.26 million.

On its prospects, the group said it remains vigilant and prudent in managing its operations on the back of dynamic global economic and political environment.

“While we benefit from the sustained demand for security seals which is also expected to improve after this period under review, we are continuously improving our efficiency, competitiveness as well as our ability to adapt to unexpected market shifts,” Mega Fortris said.

Mega Fortris manufactures an estimated 530 million pieces of security seals annually, supplying tamper-evident products to sectors requiring high-security standards, from logistics to casinos.

The group’s client portfolio includes 38 casino operators across Asia, including in Macau, the Philippines, Vietnam and Cambodia.

Shares in Mega Fortris closed one sen or 1.7% higher at 60.5 sen on Thursday, valuing the group at RM511.2 million. It was trading 9.7% lower than its initial public offering price of 67 sen.