Pantech Q3 net profit at RM8.7mil

TheStar Fri, Jan 22, 2021 08:50am - 3 years View Original


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PETALING JAYA: Pipes and valve supplier Pantech Group Holdings Bhd’s earnings declined in the third quarter (Q3) ended Nov 30,2020, on lower contribution from its trading division.

Net profit fell 15% to RM8.7mil from RM10.27mil a year ago, while revenue dropped to RM133mil from RM166mil previously.

“The lower revenue was mainly due to the decrease in sales demand in local oil and gas sectors for the current quarter, ” Pantech said in a filing with Bursa Malaysia yesterday.

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