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Thursday, January 23, 2014

Pantech Group Q3 earnings slip 22.5% to RM12.09mil


It said on Wednesday that revenue fell 23.5% to RM131.08mil from RM171.52mil a year ago. Earnings per share were 2.24 sen compared with 3.33 sen.
It declared a third interim single tier dividend of 1.0 sen per 20 sen share for the financial year ended Feb 28, 2014.
Pantech said for the quarter ended Nov 30, 2013, the trading division recorded lower external revenue of RM75.07mil from the RM100.79mil a year ago.  Profit before tax fell to RM6.96mil from RM14.77mil.
As for its manufacturing division, it recorded lower external revenue of RM56.02mil from RM70.73mil a year ago but profit before tax was higher at RM10.09mil from RM7.51mil a year ago.
"The lower revenue for the current quarter is mainly due to lower export sales by stainless steel manufacturing plant. Despite lower revenue achieved, a higher profit before tax is reported due mainly to higher output of better margin products by manufacturing division," it said.
For the nine months ended Nov 30, 2013, its earnings slipped 2.8% to RM41.16mil from RM42.38mil. Revenue fell 7% to RM447.18mil from RM480.86mil.

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