KUALA LUMPUR: Automated manufacturing solutions provider ECA Integrated Solution Bhd (ECA) is positively sustaining earnings growth for the financial year ending 31 October 2023 (FY23), underpinned by the continued shift towards automation in the face of manpower shortage and rising cost environment.

Executive director and chief operating officer Chua Lye Hock said it had been a hectic time for the company - from delivering its integrated production systems (IPS) and standalone automated equipment (SAE) orders to discussing with customers on new orders and negotiating contracts with new prospective customers.

"The response from customers for our automation solutions has been very encouraging.

"We are working to secure more orders. Coupled with the existing orders on-hand, we look forward to achieving another breakthrough performance for us in FY23," said Chua, who is also the major shareholder of ECA.

According to the recently released fourth quarter financial results, ECA registered a 34.2 per cent increase year-on-year in FY22 revenue to reach RM27.5 million as it delivered more IPS and SAE to its customers.

Meanwhile, its net profit of RM7.8 million at first glance showed a reduction compared to the RM8.2 million in FY21.

However, after adding back RM1.2 million in one-off listing expenses, the adjusted FY22 net profit would have been approximately RM9.0 million, a record high for the company.

"The trend towards automation is here to stay, and the demand will only get greater, driven by the need for businesses worldwide to remain competitive.

"In addition to our current solutions, we are also developing several new ones that we hope to release later this year," Chua said.

With the company's listing proceeds of RM25.5 million now in place, ECA is forging ahead at full force with its expansion plans, which, amongst others, include acquiring new advanced machinery and allocating higher working capital to undertake bigger orders.

It has also increased its headcount of engineers to cope with the rising demand.

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