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Wednesday, August 31, 2016

Pestech posts RM22.4m earnings in quarter ended June 30

Tuesday, 30 August 2016 | MYT 2:08 PM
Pestech posts RM22.4m earnings in quarter ended June 30

KUALA LUMPUR: Pestech International Bhd posted earnings of RM22.46mil in the quarter ended June 30, 2015 on the back of RM190.66mil in revenue and plans to increase its share of power infrastructure project.

The power technology company said on Tuesday the revenue was from projects and products which accounted for RM188mil or 98.6% and RM2.6mil or 1.4% respectively.

“The group recorded a gross profit margin of 29.8% for FY ended June 30, 2016,” it said.

Pestech said its FY was changed from Dec 31 to June 30 to cover the 18 months from Jan 1, 2014 to June 30, 2015 and thereafter, to end at June 30 each year. Hence, there were no comparative figures following the change of financial year end.

“The management will continue pursuing opportunities in the power infrastructure business including power transmission asset build up and rail electrification in the region to propel our growth further in the future,” it said.

Pestech said the group would step up its efforts in the procurement of power infrastructure project in Malaysia, Cambodia and also newer markets like Indonesia and the Philippines.

“With this strategy in place, Pestech is poised to deliver promising growth in the coming financial year supported by our strong order book,” it said.

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