Pantech said its manufacturing segment had seen unfavourable foreign exchange rates for the export market during the quarter.
PETALING JAYA: Pantech Group Holdings Bhd
garnered a net profit of RM26.3mil for its first financial quarter ended May 31 (1Q25), representing a fractional year-on-year (y-o-y) slide of 2.6% against the same quarter last year.
This was despite revenue growing by 4.5% y-o-y to RM255.7mil, with the group pointing to a lower contribution from its manufacturing division as the reason profitability had stayed flat.
Pantech said its manufacturing segment had seen unfavourable foreign exchange rates for the export market during the quarter.
Compared with the preceding quarter ended Feb 29, net earnings were also lower by 8.6% from RM28.7mil, although turnover went up by 11.3% from RM229.7mil, with the group citing higher operating expenses for the slightly reduced profit.
Pantech said robust oil prices are likely to bring a positive impact to its related capital activities such as increased spending in facilities maintenance and upgrading activities in the oil and gas industry.
“This in turn will improve the demand for our products in both domestic and international markets,” it said.
