KUALA LUMPUR: Pekat Group Bhd posted a net profit of RM4.40 million in the primary quarter ended March 31, 2022 (Q1 2022) from RM4.54 million in the identical interval final yr.
Revenue elevated by RM3.8 million, or 9.2 per cent, to RM45.5 million from RM41.7 million beforehand, primarily due to increased income from the buying and selling section.
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In a submitting with Bursa Malaysia as we speak, the group stated that of the RM45.5 million in income, RM26.9 million was contributed by the photo voltaic photovoltaics (PV) section, RM8.2 million from earthing and lightning safety (ELP) section and RM10.4 million from the buying and selling section.
“The transition to COVID-19 endemic part has allowed industries to function at full capability and with out restrictions.
“As such, there have been extra orders from the buying and selling section being fulfilled and delivered to prospects as in contrast to Q1 FY21,” it stated.
In an announcement, Pekat stated it has grown its unbilled order guide by 18.5 per cent year-on-year to RM209.3 million from RM176.5 million, backed by 24.1 per cent and 14.2 per cent development in the photo voltaic PV section and the ELP section, respectively.
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“This is on the again of continued demand for photo voltaic PV options as a hedge in opposition to rising gasoline prices, coupled with the strong penetration of our ELP section into the rising industrial sector in Penang.
“The order guide places Pekat in a wholesome development trajectory,” it stated.
Chief government officer Chin Soo Mau stated regardless of rising prices, Pekat strategised by specializing in tasks with higher profit margins, whereas delivering end-to-end options that present shoppers with peace of thoughts for photo voltaic PV and ELP programs.
“In the photo voltaic PV section, not like large-scale photo voltaic tasks with longer turnaround time, we concentrate on industrial and industrial (C&I) shoppers the place tasks are fast-tracked.
“This permits us the flexibleness in managing prices and to move on a number of the materials prices to prospects,” he stated.
With a mean return on funding of 5 years involving photo voltaic PV programs in this house, it’s nonetheless a gorgeous proposition for C&I gamers to transition into photo voltaic vitality as a hedge in opposition to rising electrical energy prices, added Chin. – Bernama
