Posted by Jimmy Song > 2019-02-28 20:35 | Report Abuse

Oil and Gas (“O&G”) service provider T7 Global Berhad (“T7 Global” or “The Group”) released its fourth quarter (“Q4FYE2018”) and full year (“FYE2018”) results for the financial year ended 31 December 2018. For FYE2018, T7 Global’s profit after tax (PAT) increased from RM5.7 million in FYE2017 to RM10.8 million, translating to a 91% growth in FYE2018. The PAT growth was due to higher revenue and better profit margins. Gross profit grew by 24% from FYE2017’s RM24.7 million to FYE2018’s RM30.6 million. Bulk of the revenue came from its products and services division, which accounted for 56% of the top line, at RM118.3 million. The engineered packages division contributed the remaining 44% or RM92.1 million. The PAT margin increased from FYE2017’s 2.8% to 5.1% in FYE2018. In view of the improved PAT, the basic earnings per share increased from 1.47 sen in FYE2017 to 2.60 sen in the FYE2018. “2018 was a record-breaking year for T7 Global. The Group exceeded all its annual financial targets. The result was driven by the continuous improving performance across all of our businesses. While 2018 results itself is commendable, one should not only read the results in isolation. The past few years’ growth has been tremendous. The Group’s revenue and PAT compound annual growth rate (CAGR) since 2016 exceeded 50%,” said T7 Global Chairman Datuk Seri Dr Nik Norzrul Thani Nik Hassan Thani. He added, “We are actively preparing for T7 Kilgour Sdn Bhd and expect to commence operations in the first half of 2019. This business segment will contribute to our Group in 2019 and also cement our position as a new leader in the aerospace industry and enable us to build a global leader in aerospace industry. As I look to the year ahead, we are embarking on a more fundamental business with a terrific leadership team and an improved market environment. At the same time, T7 Global is continuing to prepare for the future and is stepping up its growth strategy.”