Pantech 4Q profit jumps 21%, declares 1.2 sen dividend

Business & Markets 2013
Written by Kamarul Anwar of theedgemalaysia.com
Thursday, 25 April 2013 18:06
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Thursday, April 25, 2013
KUALA LUMPUR (April 25): PANTECH GROUP HOLDINGS BHD []
enjoyed a 21% jump in its final quarter net profit, following higher
demand for its trading division’s hardware from the oil and gas industry.
In a filing to Bursa Malaysia, the group reported that net profit for its
fourth quarter for the financial year ended February 28, 2013 (4QFY13)
came to RM12.62 million against RM10.41 million last year.
Revenue was 24% higher at RM156.3 million versus RM126.02 million in
the previous corresponding period.
While Pantech registered a bigger net profit, its proposed a final
single-tier dividend came down to 1.2 sen per share, against 1.3 sen
from last year.
Pantech closed its financial year (FY13) with a jolt in net profit, as it
was 60.69% higher from a year earlier. FY13 net profit came to
RM55.01 million or 11.51 sen per share, whereas the previous
corresponding period’s net profit was RM34.23 million or 7.6 sen per
share.
The group’s revenue was RM637.16 million in FY13, up 46.6% from the
previous corresponding period’s RM434.6 million.
“The higher revenue for the year was mainly due to improved sales
demand from oil and gas sector with active ongoing and new projects. With trading division operating expenses closely
controlled, the higher revenue generated by trading division has translated to higher segment profit before tax,” Pantech
explained in the filing.
Moving forward, the group said it will continue to focus and expand on its existing revenue-generating businesses and seek
opportunities to grow its local and international businesses.
“The group is of the view that the long-term outlook of the oil and gas industry continues to be positive and barring any
unforeseen circumstances, the group expects its overall performance for the next financial year to remain satisfactory,”
Pantech elaborated.
Its full-year dividend amounted to 4.6 sen per share, up from 3.5 sen per share distributed in the last financial year.
Pantech shares closed unchanged at 74.5 sen with trading volume of 204,200.