I have 2 lots of Pantech.
KUALA LUMPUR: Pantech Group Holdings Bhd posted a marginally higher net profit of RM8.78 million in its fourth quarter (4Q) ended Feb 28, 2009 compared with RM8.24 million a year earlier despite revenue surging 84% to RM139.35 million from RM75.7 million.
The net profit reflected a provision for writedown of stock of RM9.24 million. Its full-year FY08 revenue was boosted to RM511.2 million from RM313.3 million in FY07.
Pantech said today its full-year net profit jumped 75% to RM59.63 million from RM34.14 million in FY07 due to higher manufacturing output, higher sales volume, better product mix from the trading division and contribution from overseas operation.
It proposed a final single-tier dividend of one sen per share totalling RM3.75 million, bringing total dividend for FY08 to three sen per share. Earnings per share rose to 15.94 sen from 9.1 sen, while net assets per share increased to 53 sen from 39 sen.
On its prospects for the current financial year, the company said the duration, extent and impact of the persisting global financial meltdown were uncertain even while there were tender shoots of an economic recovery and increased liquidity in the financial system.
"Therefore, the board will adopt a cautious approach to monitor the situation and mitigate any negative impact through diligent administration of operation cost controls and cash flows."
"In view of the above, the board foresees the next financial year will be a challenging year for the group," it said, adding that the group's performance for the next financial year would be in line with the overall performance of the oil and gas fabrication and other services sector while the long-term outlook continued to be positive.
The net profit reflected a provision for writedown of stock of RM9.24 million. Its full-year FY08 revenue was boosted to RM511.2 million from RM313.3 million in FY07.
Pantech said today its full-year net profit jumped 75% to RM59.63 million from RM34.14 million in FY07 due to higher manufacturing output, higher sales volume, better product mix from the trading division and contribution from overseas operation.
It proposed a final single-tier dividend of one sen per share totalling RM3.75 million, bringing total dividend for FY08 to three sen per share. Earnings per share rose to 15.94 sen from 9.1 sen, while net assets per share increased to 53 sen from 39 sen.
On its prospects for the current financial year, the company said the duration, extent and impact of the persisting global financial meltdown were uncertain even while there were tender shoots of an economic recovery and increased liquidity in the financial system.
"Therefore, the board will adopt a cautious approach to monitor the situation and mitigate any negative impact through diligent administration of operation cost controls and cash flows."
"In view of the above, the board foresees the next financial year will be a challenging year for the group," it said, adding that the group's performance for the next financial year would be in line with the overall performance of the oil and gas fabrication and other services sector while the long-term outlook continued to be positive.
1 comments:
Hi, Pantech result just announced. Their profit dropped 50% if compare to their preceding qtr. What is this btw?? "The Group registered a lower profit after taxation of RM8.78 million for current
quarter, as compared to preceding quarter of RM17.25 million, reflecting the provision for write down
of stock of RM9.24 million in current quarter." mentioned in their report. What does that means for?? Thanks...