Pintaras Jaya 3Q profit grows 54%, pays 10 sen dividend

Business & Markets 2013
Written by Kamarul Anwar of theedgemalaysia.com
Friday, 17 May 2013 18:52
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KUALA LUMPUR (May 17): PINTARAS JAYA BHD []’s third quarter net
profit grew 54% year-on-year as the builder realised profits from
completed projects.
In a filing with Bursa Malaysia, Pintaras Jaya said net profit for the three
months ended March 31, 2013 (3QFY13) grew to RM13.81 million from
RM8.95 million. Revenue however fell 5.84% to RM42.43 million from
45.06 million.
Cumulative net profit for 9MFY13 was higher at RM36.16 million against
RM34.12 million a year earlier. Revenue however fell to RM122.14
million from RM136.11 million.
The firm declared an interim dividend of 10 sen a share for the quarter
in review.
On its prospects, Pintaras Jaya said it expects its CONSTRUCTION []
business to perform well in the final quarter based on a strong order
book. It did not mention its order book's value.
“Tendering activities are further boosted by the progressive roll-out of
various infrastructure and property projects both from the public and
private sectors.
"We expect the pace of contract awards to accelerate now that the
elections are over,” the company said
However, the firm expects skilled labour shortage, staffing issues and escalation of material prices to pose serious
challenges.
“On the manufacturing front, our metal container operations remain difficult due to intense competition in the market.
"We have successfully installed a new coating line and would continue to focus and expand our range of products in order to
enhance sales and productivity,” it said.
Overall, Pintaras Jaya said it expects FY13 performance to be better from the year earlier