Revenue from continuing operations for the half-year period was RM146.2 million, a 1% decrease y-o-y compared to 1HFY2023, while cost of sales decreased 4% y-o-y to RM117.4 million.
Gross profit increased 15% y-o-y to RM28.8 million in 1HFY2024 due to completed projects.
Meanwhile, the company’s operating activities recorded a profit of RM103.5 million for 1HFY2024 compared to RM1.7 million for 1HFY2023 due to gains of RM98.0 million arising from the deconsolidation of its subsidiary Aspen Glove Sdn. Bhd.
The company’s disposal of its equity interest and redeemable preference shares in Global Vision Logistics in August last year for RM32.9 million also contributed to the earnings increase.
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As at Dec 31, 2023, cash and cash equivalents stood at RM15.0 million.
Shares in Aspen closed 0.1 cent higher or 2.27% up at 4.5 cents on Feb 13.
