KUALA LUMPUR: Unitrade Industries Bhd is optimistic about further business growth, as the construction gross domestic product (GDP) growth is projected to go up by 11.5% in 2022, based on the Economic Outlook 2022 published by the Finance Ministry in October 2021.

       Unitrade Industries, one of the country’s largest building materials wholesalers and distributors, is en route to be listed on the ACE Market on June 14.

       For its financial year ended March 31, 2022 (FY22), the group posted revenue of RM1.3bil and net profit of RM43.2mil.

       In a filing with Bursa Malaysia, the group said the higher revenue as compared to combined financial entities in prior year, was mainly contributed by increase in steel price in FY22 which resulted in increased selling prices of its goods and overall higher sales volumes of reinforcement steel to downstream steel products manufacturers.