KUALA LUMPUR (May 8): Geotechnical services provider Fibromat (M) Bhd (KL:FIBRO) expects 20% annual profit growth over the next three years, driven by ongoing and upcoming projects, including a number in Sabah and Sarawak.
The company has not announced a dividend policy.
At its listing ceremony on Thursday, chief financial officer Nadiah Firdaus projected profit after tax from unbilled projects to reach RM13 million in 2025, RM16 million in 2026, and RM18 million in 2027, supported by 42 ongoing projects and a strong revenue pipeline. She also mentioned RM118 million in new projects being secured, but gave no further details.
WATCH: Fibromat targets 20% annual profit growth
Fibromat is also targeting involvement in the RM7.4 billion Sarawak-Sabah Link Road project, currently under negotiation, though no contracts have been awarded yet.
The company sees infrastructure in Sabah and Sarawak as a key growth driver.
Executive director Ng Chun Hou said Fibromat had already secured half of the project packages for the Pan Borneo Highway in Sabah, where progress is now picking up.
Revenue from these projects is expected to contribute from 2025, though no specific figures were shared.
At midday, Fibromat shares settled 5.5 sen or 10% lower at 49.5 sen, valuing the company at RM123 million.
WATCH: Fibromat eyes projects in Sabah, Sarawak