No wonder pantech uplah today. Should I Sell?
KUALA LUMPUR: PANTECH GROUP HOLDINGS BHD [ PANTECH 0.905 0.035 (4.023%) ]'s unit Pantech Steel Industries Sdn Bhd has received the requisite approvals from the European Union Commission to export its steel products to the European Union (EU).
The good news came as the EU has repealed anti-dumping duty on imports of tube and pipe-fittings, of iron or steel originating in Malaysia.
In an announcement to Bursa Malaysia, Pantech said, "The board is of the opinion that the above development will contribute positively to the group's financial performance in the current financial year ending February 2010."
For the first three months of FY2010, Pantech posted net profits of RM13.6 million on the back of a turnover of RM123.9 million. In contrast to the similar period a year ago, Pantech's net profits slipped 13% despite revenue gaining 9.3%.
In its notes, which accompany its financials, Pantech says the lower profits were, "mainly attributed to changes in product mix from the trading division and lower contribution from manufacturing division".
Pantech gained 3.5 sen to end at 90.5 sen.
KUALA LUMPUR: PANTECH GROUP HOLDINGS BHD [ PANTECH 0.905 0.035 (4.023%) ]'s unit Pantech Steel Industries Sdn Bhd has received the requisite approvals from the European Union Commission to export its steel products to the European Union (EU).
The good news came as the EU has repealed anti-dumping duty on imports of tube and pipe-fittings, of iron or steel originating in Malaysia.
In an announcement to Bursa Malaysia, Pantech said, "The board is of the opinion that the above development will contribute positively to the group's financial performance in the current financial year ending February 2010."
For the first three months of FY2010, Pantech posted net profits of RM13.6 million on the back of a turnover of RM123.9 million. In contrast to the similar period a year ago, Pantech's net profits slipped 13% despite revenue gaining 9.3%.
In its notes, which accompany its financials, Pantech says the lower profits were, "mainly attributed to changes in product mix from the trading division and lower contribution from manufacturing division".
Pantech gained 3.5 sen to end at 90.5 sen.