KUALA LUMPUR (Feb 26): Here is a brief recap of some corporate announcements that made the news on Tuesday:

Nestlé (Malaysia) Bhd’s (KL:NESTLE) net profit fell 72.2% year-on-year to RM41.1 million for the fourth quarter ended Dec 31, 2024 (4QFY2024) — lowest in 11 years since 4QFY2013 — from RM148.10 million in 4QFY2023, primarily due to increased input costs and lower sales. For the full year, net profit fell 37% to RM415.62 million — the lowest in 14 years since FY2010 — compared with RM659.87 million in FY2023. Revenue dropped 12.6% to RM1.47 billion from RM1.69 billion in 4QFY2023. Full year revenue contracted 11.7% to RM6.22 billion from RM7.05 billion. — Nestlé Malaysia reports decade-low profit in 4Q; annual dividend drops to 15-year low

Affin Bank Bhd’s (KL:AFFIN) net profit for 4QFY2024 jumped more than three times to RM135.09 million from RM39.54 million a year ago, on write-back of credit impairments losses. To reward its shareholders, the bank proposed a bonus issue of one new share for every 18 shares held. Net interest income increased 27.3% year-on-year to RM225.74 million while non-interest income was 26.4% higher at RM78.65 million. For FY2024, net profit was up 26.7% to RM509.7 million from RM402.19 million in FY2023, while net interest income rose 5.6% to RM826.41 million, underpinned by higher loans disbursed which grew 8.1% to RM72 billion. — Affin Bank’s 4Q profit jumps over threefold on write-backs, proposes bonus issue

Telekom Malaysia Bhd (KL:TM) reported its highest ever quarterly net profit with RM730.6 million in 4QFY2024, up 68.5% from RM433.5 million a year ago, helped by tax credits amounting to RM377.5 million. Excluding the one-off tax credit, its profit before tax would have fallen 5.7% to RM371.4 million from RM393.7 million. Quarterly revenue rose 2% to RM3.05 billion from RM2.99 billion. For FY2024 as a whole, net profit rose 7.8% to RM2.02 billion from RM1.87 billion in FY2023. Annual revenue was flat at RM11.71 billion. — TM’s 4Q profit up 68.5% on tax credits, declares 18.5 sen dividend

IOI Corp Bhd’s (KL:IOICORP) net profit fell 67% to RM111.1 million in the second quarter ended Dec 31, 2024 (2QFY2025) from RM335.4 million a year ago, as a surge in palm oil prices was overshadowed by paper losses as it booked a RM283.5 million net foreign exchange loss on foreign currency-denominated borrowings and deposits as well as fair value loss on derivatives. Quarterly revenue rose 24% to RM2.97 billion as higher CPO prices outpaced a 6% decline in output of fresh fruit bunches. For its six-month period, its net profit rose 29% to RM821.8 million from RM639.4 million, as revenue rose 23% to RM5.64 billion from RM4.6 billion. — IOI Corp's 2Q profit down 67% on paper loss, expects palm oil prices to stay strong

Padini Holdings Bhd’s (KL:PADINI) net profit increased 21.1% to RM64.31 million in 2QFY2025 from RM53.10 million a year ago, largely driven by improved gross margins and stronger festive season sales. Quarterly revenue was up 5.1% to RM525.62 million. For 1HFY2025, its net profit declined 4.9% to RM75.84 million from RM79.77 million last year, due to higher unrealised foreign exchange loss, higher staff costs and increased depreciation from outlet expansion. Revenue, however, increased 3.4% to RM918.77 million from RM888.30 million. — Padini’s 2Q net profit rises 21% on festive season sales, pays 1.8 sen dividend

Smart city integrated system and solutions provider ITMAX System Bhd’s (KL:ITMAX) net profit increased 26.6% to RM21.1 million in 4QFY2024 from RM16.67 million a year earlier, on the back of higher revenue from its digital infrastructure and maintenance services. Quarterly revenue rose 48.23% to RM63.13 million from RM42.59 million a year ago, driven by an expansion in digital infrastructure solutions and supply, installation and maintenance services. It closed FY2024 with a 27.06% increase in full year net profit to RM80.39 million from RM63.28 million in FY2023, as revenue rose 47.13% to RM220.23 million from RM149.68 million. — ITMAX’s 4Q net profit rises 26%, declares 0.6 sen dividend

Leong Hup International Bhd’s (KL:LHI) net profit rose 72.6% to a fresh record high of RM140.84 million in 4QFY2024 from RM81.6 million a year ago, driven by stronger contribution from its livestock and poultry-related products and lower finance costs. Quarterly revenue, however, fell 4.1% year-on-year to RM2.32 billion from RM2.41 billion, due to lower contributions from the feedmill segment, mainly in Indonesia, Vietnam and Malaysia. For the full year, net profit increased 42.2% to another record high of RM428.93 million from RM301.74 million in FY2023. Meanwhile, full-year revenue declined 2.4% to RM9.31 billion from RM9.54 billion. — Leong Hup logs fresh record quarterly, full-year earnings

Department store and mall operator AEON Co (M) Bhd’s (KL:AEON) net profit declined 26.3% to RM24 million in 4QFY2024 from RM32.6 million a year ago, dragged down by a one-off accrual for litigation claims and interests amounting to RM22.6 million. Normalising the one-off cost, AEON said its profit before tax would have been 19.1% higher at RM64.1 million compared with RM53.8 million in 4QFY2023. Quarterly revenue rose 3.6% to RM1.07 billion from RM1.03 billion in 4QFY2023, as its retail business and property management services both grew 3% and 6.2% respectively. For the full year, net profit increased 11.5% to RM128 million from RM114.83 million, as revenue rose 3.2% to RM4.26 billion from RM4.13 billion. — AEON Co’s 4Q net profit down 26.3% on litigation claims, full year up 11.5%

Frontken Corp Bhd’s (KL:FRONTKN)’s fourth quarter net profit rose 28% to a record high of RM38.10 million from RM29.71 million a year earlier, on the back of strong demand in its semiconductor and oil and gas businesses. Revenue rose 14% to a record high of RM149.46 million from RM131.49 million last year, thanks to higher contributions from subsidiaries in Taiwan and Malaysia. For the full year, the group posted a record net profit of RM136.81 million, up 22% from RM111.95 million in FY2023, on the back of higher revenue and vigilant cost management. The group logged its best full-year revenue of RM569.21 million in FY2024, up 14% from RM500.15 million in the previous year, thanks to improved performance from all its core businesses. — Frontken books record 4Q, full-year earnings; declares two sen dividend

Pentamaster Corp Bhd’s (KL:PENTA) net profit for the fourth quarter fell 31.6% to RM14.16 million from RM20.7 million, mainly due to weaker demand in its automated test equipment (ATE) segment. Inventories written off, higher expected credit loss on trade receivables, and increased research and development expenses also weighed on its earnings. Quarterly revenue dropped 22.7% year-on-year to RM130.68 million from RM169.01 million. For the full year, net profit dropped 26.9% to RM65.21 million — its lowest since FY2018 when it posted a net profit of RM57.12 million — from RM89.13 million in FY2023, as revenue declined 10% to RM623.02 million from RM691.94 million. — Pentamaster's 4Q net profit drops 32% on lower contribution from automated test equipment segment

Offshore vessel chartering firm Keyfield International Bhd’s (KL:KEYFIELD) net profit doubled to RM45.49 million in 4QFY2024 from RM22.12 million a year ago, thanks to higher charter rates and fleet expansion. Revenue rose 38% to RM165 million, compared with RM119.53 million a year earlier. For the full year, net profit jumped 115.1% to RM226.94 million from RM105.48 million in FY2023, as revenue increased 59.6% to RM687.15 million from RM430.45 million. — Keyfield’s 4Q and full-year earnings double; pays three sen dividend

Pekat Group Bhd (KL:PEKAT) reported its highest-ever quarterly profit and revenue for 4QFY2024, along with record high annual earnings and revenue. Its 4QFY2024 net profit more than doubled to RM8.03 million from RM3.52 million a year ago, while quarterly revenue increased 61.7% to RM94.26 million from RM58.29 million. For FY2024, net profit increased 65.5% to RM22.76 million from RM13.75 million a year ago, while total revenue was up 28% to RM291.09 million from RM227.46 million. — Pekat Group closes FY2024 with record-high earnings and revenue in 4Q

Separately, Pekat said its direct 60%-owned unit EPE Switchgear (M) Sdn Bhd has secured a RM97.26 million power distribution equipment supply contract from Tenaga Nasional Bhd (KL:TENAGA). — Pekat’s newly acquired power distribution unit bags RM97m contract from TNB

NEXG Bhd (KL:DSONIC), formerly known as Datasonic Group Bhd, plans to raise up to RM133.74 million via a private placement, mainly to fund its business expansion and repay bank borrowings. The placement will involve the issuance of up to 448.79 million new shares, representing up to 10% of the company's issued shares, to independent third-party Bumiputera investors. — NEXG plans private placement to raise up to RM134 mil, boost Bumiputera shareholding