MN Holdings Berhad (“MN Holdings” or the “Group”), a leading infrastructure utilities construction and engineering solutions specialist in Malaysia, today announced its financial results for the third quarter ended 31 March 2025 (“Q3 FY2025”), reporting a new record-high profit before tax (“PBT”) of RM22.62 million, a 244% increase from RM6.58 million in the same period last year (“Q3 FY2024”).
For Q3 FY2025, the Group recorded revenue of RM127.42 million, a significant increase of 149% from RM51.11 million in Q3 FY2024.
The overall increase in revenue was mainly contributed from the substation engineering segment, which increased by 248% from RM27.91 million in Q3 FY2024 to RM97.09 million in Q3 FY2025.
This strong operational performance translated into a profit after tax (“PAT”) of RM16.69 million in Q3 FY2025, more than triple from RM4.84 million recorded in Q3 FY2024. Basic earnings per share rose to 3.01 sen, up from 1.12 sen in Q3 FY2024.
For the nine months ended 31 March 2025 (“9M FY2025”), the Group delivered a strong financial performance, with revenue reaching RM356.01 million, a substantial 96% increase from RM181.18 million recorded in the corresponding period last year.
This remarkable growth was driven by accelerated project execution and higher billings, particularly from the substation engineering segment, which continued to anchor the Group’s top-line expansion by a 98% increase from RM106.61 million in 9M FY2024 to RM211.19 million.
Meanwhile, the Group’s PBT soared by 179%, rising to RM49.83 million from RM17.83 million in 9M FY2024, driven by enhanced operating scale, margin optimisation, and improved cost efficiency. PAT also more than doubled to RM36.42 million, compared to RM13.03 million previously, underscoring MN Holdings’ ability to convert strong revenue growth into solid bottom-line performance.
Dato’ Clement Toh, Managing Director of MN Holdings said, “Our record performance this quarter reflects our disciplined execution and deep capabilities across key infrastructure segments. With continued demand for energy-related projects, from power distribution to data centres and renewable energy facilities, we are well-positioned to deliver value and meet Malaysia’s evolving infrastructure needs.”
He added, “As Malaysia advances its energy transition, we are proud to support initiatives under the National Energy Transition Roadmap (“NETR”), the Green Electricity Tariff (“GET”), and TNB’s grid enhancement programmes. Backed by a healthy order book and growing exposure to high-demand segments such as data centres, solar interconnection, and battery energy storage systems, we are confident in sustaining our growth trajectory. We also looks forward to capitalise on various power related business opportunities as well as those from sewerage and gas sectors.”
As at 31 March 2025, MN Holdings recorded a robust financial position, with net assets per share at RM0.32 and cash and short-term investments totalling RM73.94 million.
The Group’s outstanding order book stood at approximately RM1,097 million, providing clear revenue visibility over the next 24 to 36 months.
On 27 May 2025, the Group declared a second interim dividend of 0.10 sen per share, reflecting the Board’s confidence in the Group’s consistent performance and positive earnings trajectory.
For more information, visit https://mnholdings.com.my/
