Pestech says it will continue to engage itself actively in the regional power infrastructure markets in line with its strategy to serve the Asian community as a whole via technical advancement and value added services and products
KUCHING: Pestech International Bhd (Pestech) registered a pre-tax profit of RM32.19 million for the quarter ended June 2015.
The company in a filing to Bursa Malaysia said turnover for the quarter ended June 2015 stood at RM88.93 million.
Pestech explained that following the change of the group’s financial year end from December 31 to June 30, there were no comparative figures available. Pestech added for the 18 months ended June 30, 2015, the group posted a revenue of RM400.8 million and pre-tax profit of RM72.82 million.
The company in its account notes said the revenue for the quarter ended June 2015 was contributed by projects and sales of products. Pestech revealed that the group recorded a gross profit margin of 25.1 per cent for the financial period ended June 2015.
Commenting on the group’s prospects, Pestech said, “Pestech is fortunate enough to have booked in comfortable amount of orders to sustain and maintain its growth in the future as the effect of world’s economic uncertainty starts to creep into the Asian region.
“The group has about RM723 million of order book as at June 30, 2015, which may take two years to fully execute.
“In the mean time, the sales and marketing team is continuously participating in various tenders and project procurement activities both locally and regionally to ensure ample replenishment of new projects in the power infrastructure and rail electrification.
“Efforts are put in place to also pave the road for future business expansion which involve the strategic tie up with established market leader in the manufacturing of power infrastructure related products.
“The result of such efforts is evidenced by the recent execution of memorandum of understanding with Shandong Electrical Engineering and Equipment Group (SEEEG) for collaborative effort in the development of power infrastructure market in the Royal Kingdom of Cambodia on July 30, 2015.
“Both parties are now carrying on their discussion on further solidification of the collaborative arrangement for the implementation of the market development plan.
“As such, Pestech will continue to engage itself actively in the regional power infrastructure markets in line with its strategy to serve the Asian community as a whole via technical advancement and value added services and products,” the company
said.