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Pestech’s 1H net profit rises 32% to RM9.7 mil

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Pestech’s 1H net profit rises 32% to RM9.7 mil Empty Pestech’s 1H net profit rises 32% to RM9.7 mil

Post by Cals Mon 25 Aug 2014, 03:27

Pestech’s 1H net profit rises 32% to RM9.7 mil
Business & Markets 2014
Written by Yen Ne Foo of theedgemalaysia.com   
Friday, 22 August 2014 15:21

KUALA LUMPUR (Aug 22): Pestech International Bhd (Pestech) registered slightly higher profits of RM5.36 million or a 7.9% y-o-y increase in the three months ended June 30, 2014, on the back of RM58.16 million in revenue.

Revenue grew 40% y-o-y, from the RM41.5 million the company achieved in the same period under review last year.

Pestech, whose core business is in the construction of power sector infrastructure, has said that the higher revenue in this quarter is attributed to the increase in projects awarded being implemented.

For the six-month period, profit was higher by 32% at RM9.72 million or 9.95 sen per share, compared to RM7.37 million during the same period last year. Meanwhile, revenue jumped to RM103.28 million, representing a 57% increase from RM65.8 million seen last year.

A dividend of 2 sen per share has been declared for the quarter, bringing total dividends declared in cumulative six-month period to 6 sen per share.

In the notes accompanying its result, Pestech said it will “diligently concentrate in the execution of projects in hand to ensure the ability to deliver positive performance in the coming quarters”, while eyeing for opportunity to drive enduring growth in revenue and profitability.
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