ACO Group Berhad which was listed in May 2020, saw its profits for Q3 surge 75.6% to a record high of RM3 million as compared to RM1.7 million it achieved a year for the same period. Total revenue however stood slightly lower at RM35.7 million in 3QFY22 against RM36.9 million in the same quarter.

In tandem with the improvement net profit surged for the 9 months to 240.2% with RM6.1 million as compared to RM1.8 million in the same period last year. Meanwhile, revenue rose 21.0% to RM91.3 million versus RM75.5 million. The improvement in financial performance was mainly attributable to the recovery in demand from customers as well as an RM1.9 million in the share of profit contribution from the Group’s associate, Focus Electrical Sdn Bhd which was absent in the preceding period. Furthermore, 9MFY21 financial performance included an RM2 million one-off listing expense.

Group Managing Director, Ir. Tang Pee Tee attributed the better performance to industries reopening after the various lockdown measures, he added that the company has been busy fulfilling order backlogs accumulated during the lockdown period. Additionally, the investment in Focus Electrical has also continued to deliver a commendable performance.

Moving forward, the group will be moving into its new headquarter and has a new sales outlet within the same vicinity.

The Group’s pivot to the renewable energy industry by offering solar-related products and services has raised its profile among solar players The recently established partnership with EV Connection allows ACO to tap into the rapid growth in the electric vehicles industry.

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