KUALA LUMPUR (Feb 28): Sedania Innovator Bhd posted a net profit of RM1.35 million for the fourth quarter ended Dec 31, 2023, versus a net loss of RM356,000 a year earlier.

In a bourse filing on Tuesday, Sedania said revenue for the latest quarter rose to RM14.97 million, against RM8.07 million a year earlier.

Earnings per share stood at 0.38 sen, versus a net loss of 0.10 sen previously.

The company did not declare any dividend for the latest quarter.

In a recent announcement to Bursa Malaysia, the group stated that its current financial year, which traditionally ended on Dec 31, will transition to a new financial year end of June 30.

This change means the current financial year will extend from Jan 1, 2023 to June 30, 2024, covering 18 months.

For the cumulative four quarters, Sedania posted a net profit of RM5.12 million, versus RM768,000 for the financial year ended Dec 31, 2022, on the back of revenue of RM49.42 million against RM38.35 million previously.

In a separate statement, Sedania chairman Tan Sri Abdul Halim Ali said the company is moving forward with optimism and a clear focus on excellence.

“While we remain vigilant, our commitment to doing our best never wavers. We are excited about what lies ahead, and we are deeply committed to leading our group with heart and resilience,” he said.

Sedania founder and managing director Datuk Azrin Mohd Noor said with a new strategic value proposition aimed at maximising every household’s wallet share through synergistic product offerings, the company remains confident in maintaining profitability, with significant contributions from the sustainable healthcare and financial technology segments in 2024 and beyond.

At the time of writing on Wednesday, Sedania was flat at 20 sen, with 1.05 million shares done, valuing the company at RM73.07 million.