KUALA LUMPUR (Feb 13): ACE Market-debuting ES Sunlogy Bhd reported a net profit of RM3.65 million or 0.65 sen per share for the first quarter ended Oct 31, 2024 (1QFY2025).

Revenue for the quarter came in at RM63.54 million, according to the electrical engineering services firm’s bourse filing on Thursday.  

There are no comparative figures for the preceding corresponding quarter as this is the first interim financial statement announced by the group.

The group said its mechanical and electrical engineering services (M&E) segment is the largest revenue driver, contributing RM47.9 million (75.5%) to the total group’s revenue.

This was followed by the trading segment which recorded a revenue of RM13.5 million and the sales of renewable energy segment, which recorded a revenue of RM2.1 million.

The group which provides M&E for electricity supply distribution systems and building services, said it is optimistic and positive about its prospects.

Last month, the group launched its prospectus for an initial public offering (IPO) on the ACE Market, as it seeks to raise up to RM63 million to partly fund its expansion plans.

The IPO entails the issuance of 140 million new shares and an offer for sale of 70 million existing shares. At 30 sen apiece, the public issue is expected to raise gross proceeds of RM42 million for expansion, while the offer for sale worth RM21 million will go to its selling shareholders.

M&A Securities is acting as the adviser, sponsor, underwriter and placement agent for the IPO.