Written by Surin Murugiah
Friday, 17 July 2009 00:06
KUALA LUMPUR: Pantech Group Holdings Bhd’s net profit fell 15% to RM13.58 million for the first quarter ended May 31, 2009 from RM15.71 million a year ago, despite a 9.3% increase in revenue to RM123.92 million from RM113.36 million previously.
The company attributed the lower earnings to the changes in product mix in the trading division and lower contribution from its manufacturing division.
Earnings per share came in at 3.63 sen versus 4.19 sen in the previous corresponding period. Net asset per share was 56 sen.
Given the clouded economic outlook, Pantech said the current financial year would be challenging for the group.
“Therefore, the board will continue its cautious approach undertaken to monitor, mitigate and respond to any negative economic headwinds through diligent administration of operational cost controls and cash flows,” it said.
