Aspen Group net profit stands at $11.5m in FY2024

However, their revenue decreased by 9% YoY. 

Aspen (Group) Holdings Limited’s net profit stood at RM38.3m ($11.5m) in FY 2024, reversing their loss into earnings from RM195.3m ($58.9m) in FY 2023. 

The group recorded a gross profit of RM38.2m (approximately $11.5m), an 8% increase from RM35.3m ($10.6m) in FY 2023. 

However, their revenue decreased by 9% YoY to RM245m ($73.9m), contributed primarily by the property development segment from the group’s ongoing projects like Vivo Executive Apartment and Viluxe P1, as well the sale of their completed projects such as Vervea, Vertu Resort, and Beacon Executive Suites. 

The group also recorded net cash generated from operating activities of RM87.5m ($26.4m) YoY, which comprised operating cash inflows after working capital changes of RM98.5m ($29.7m) and tax payments of RM11m ($3.3m)

(RM1 = SG$0.3)