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Ramssol Group Q4 revenue climbs 28%, profits up

29 February 2024

Ramssol Group, a Malaysia-based HR solutions provider, reported revenue of MYR 7.85 million (USD 1.65 million) for the fourth quarter ended 31 December 2023, an increase of 28.6%.

(MYR millions) Q4 2023 Q4 2022 Change Q4 2023 (USD millions)
Revenue 7.85 6.10 28.6% 1.65
Profit before tax 1.60 0.31 408.8% 0.33
Profit for the period 0.87 0.08 1,002.5% 0.18

The group’s subsidiaries are principally involved in the provision of business digitalization, automation, human capital management (HCM) solutions, student management solutions, IT staff augmentation services, and related technology applications. Its IT staff augmentation services cover the recruitment and supply of IT professionals for internal IT projects on fixed contractual periods.

Ramssol Group shares closed yesterday at MYR 0.37 (USD 0.078), down 5.12% on the day. The company has a market cap of MYR 119.65 million (USD 25.2 million).