Group managing director Datuk Toh Yew Peng said economic activities picked up after the government eased the Movement Control Order (MCO) restrictions and this had a positive impact on the company’s financial performance.
KUALA LUMPUR: Prestar Resources Bhd
’s net profit in the third quarter jumped 132% to RM5.2mil from RM2.2mil a year ago on higher steel prices and positive contributions from its steel pipes, guardrails and racking division.
The steel products and equipment maker announced on Wednesday profit before tax (PBT) rose two-fold to RM6.5mil from RM2.1mil a year ago.
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