KUALA LUMPUR: Steel products and equipment maker, Prestar Resources Bhd
’s net profit jumped 400% to RM15.76mil in the fourth quarter ended Dec 31,2020 and remains upbeat for this year due to strong demand for its products.
The company said on Wednesday the surge in profit from RM3.11mil a year ago was driven by strong demand and higher selling prices with positive contributions from its steel pipes, guardrails and racking division.
Prestar said revenue increased by 22.6% to RM137.05mil from RM111.77mil a year ago due to higher demand for steel pipes and related products. Its earnings per share rose to 8.12 sen from 1.59 sen.
...