KUALA LUMPUR: RedPlanet Bhd's adjusted net profit rose 35.1 per cent to RM7.31 million for the financial year ended June 30, 2026 (FY26), ahead of its transfer from Bursa Malaysia's LEAP Market to the ACE Market on Oct 22.
The enterprise information and communications technology (ICT) solutions provider recorded revenue of RM40.72 million, up 22.3 per cent from RM33.3 million a year earlier.
Its adjusted net profit excludes RM980,000 in non-recurring expenses related to its initial public offering (IPO) and listing.
On a reported basis, RedPlanet's profit increased 21.3 per cent to RM6.33 million from RM5.22 million previously.
Geospatial solutions remained the largest revenue contributor at RM18.4 million, accounting for 45.1 per cent of total revenue.
Intelligent rail solutions contributed RM11.6 million, or 28.4 per cent, while ICT trading and ancillary hardware generated RM10.8 million.
Malaysia accounted for 87 per cent of revenue, with the remainder coming from overseas markets.
For the fourth quarter, RedPlanet posted revenue of RM7.55 million and net profit of RM1.36 million. Excluding listing-related expenses, quarterly net profit stood at RM1.57 million.
Its financial position remained healthy, with cash, bank balances and fixed deposits of RM13.8 million against borrowings of RM5.2 million as at June 30.
Operating cash flow more than doubled to RM9.5 million from RM4.7 million a year earlier.
RedPlanet's IPO comprises 70 million new shares priced at 19 sen each, raising RM13.3 million, alongside an offer for sale of 10 million existing shares.
Its public share allocation was oversubscribed 85.28 times.
The company expects to benefit from growth in Malaysia's geospatial and intelligent rail solutions industries.
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