PETALING JAYA: Iconic Worldwide Bhd has registered a full-year profit for the financial year ended March 31, (FY20), making it the first profitable financial year in 15 years for the company, since 2005.
The group recorded a net profit of RM3.37 million in Q4’20, as compared to a net loss of RM12.15 million in the preceding year’s corresponding period.
Revenue for the quarter soared to RM10.68 million, from RM2.42 million previously.
Managing director Datuk Tan Kean Tet said the group has successfully managed to turn around its financial performance for FY20, despite some setbacks due to reorganisation exercises and the effects of the Covid-19 pandemic.
“We received favourable contributions from the property development segment which enabled us to record a full-year profit for the first time since 2005.
“Moving forward, the group will aim for a much more improved performance and result with property development as our main driver, supported by tourism and followed closely by our new manufacturing segment,” he said.