Coraza Integrated Technology Berhad (KLSE:CORAZA) has announced its Full Year 2023 results, revealing a decline in key financial figures from the previous year. The company’s revenue was RM80.7m, down 44% from FY 2022, while it reported a net loss of RM2.67m, a significant decrease from the RM14.7m profit in FY 2022. Earnings per share (EPS) was at RM0.006 loss, down from RM0.034 profit in the previous year.
Despite the decline in financial performance, Coraza Integrated Technology Berhad’s revenue exceeded analyst estimates by 2.3%. However, the EPS fell short, missing analyst estimates by 195%. Looking ahead, the company is forecasted to have a 25% p.a. revenue growth on average over the next 3 years, outperforming the 6.2% growth forecast for the Metals and Mining industry in Malaysia.
The Malaysian Metals and Mining industry has seen Coraza Integrated Technology Berhad’s shares decrease by 4.6% in the past week. While there is potential for growth, it is important to note that there are risks associated with investing in the company. It is crucial for investors to be aware of these risks and conduct thorough research before making any investment decisions.
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