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The "Plot Twist": Why did profit dip?
You might wonder why profit dropped if revenue went up. Here is the "behind-the-scenes":
Acquisition Costs: Buying Shapadu Energy wasn't free! Legal fees, professional costs, and administrative merging took a bite out of the budget. 🤝
Margin Compression: The Energy business has a different profit profile than cleaning buildings—it's high volume but carries higher costs of sales. 🍋
HSSB Adjustments: Revisions to contract revenue estimates for Highbase Strategic Sdn Bhd (HSSB) also impacted the bottom line.