VCI Global Ltd. Reports 41% Revenue Surge to $27.8M in FY 2024, Profit Rises Slightly, EPS Drops by 72.7%

Reuters
2025/05/13
<a href="https://laohu8.com/S/VCIG">VCI Global Ltd.</a> Reports 41% Revenue Surge to $27.8M in FY 2024, Profit Rises Slightly, EPS Drops by 72.7%

VCI Global Ltd. has reported a record-high revenue of $27.8 million for the fiscal year ended December 31, 2024, marking a 41% year-over-year increase from $19.8 million in 2023. This growth was primarily driven by strong performance across its core verticals: capital market consultancy, technology, and fintech. Notably, revenue from technology development, solutions, and consultancy saw an impressive increase of 155.2%, reaching $11.4 million from $4.5 million in the prior year. The company also reported a net profit of $7.6 million for the financial year 2024, an increase from $7.2 million in 2023. However, basic and diluted earnings per share decreased significantly to $54.74 from $200.28 in the previous year, reflecting a 72.7% decline. VCI Global's net cash generated from operating activities saw a substantial increase to $22.3 million in 2024, compared to $1.2 million in 2023. Meanwhile, net cash used in investing activities rose significantly to $48.6 million, largely due to investments in Founder Group Limited, Reveillon Group Limited, and Marvis Inc. The company remains focused on creating long-term value for its shareholders, with strategic investments contributing to robust growth in the AI, technology, and fintech sectors.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. VCI Global Ltd. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9450452-en) on May 13, 2025, and is solely responsible for the information contained therein.

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