Glostrext alternate director to Ir. Dr. Lee Sieng Kai, Lee Ming Jean
KUALA LUMPUR: Geotechnical instrumentation and testing service provider, Glostrext Bhd
will maintain a proactive stance in sales and marketing activities to enhance awareness of its geotechnical instrumentation services.
“Despite challenging economic conditions, we remain optimistic about our future financial performance, anticipating continued demand growth for our services. Glostrext is committed to seizing market opportunities by delivering WiNA-based applications and solutions to both new and existing customers,” said Lee Ming Jean, alternate director to Ir. Dr. Lee Sieng Kai.
In the first quarter ended June 30 (1Q25), Glostrext’s net profit jumped 57.8% year-on-year to RM2.3mil from RM1.46mil previously.
Revenue rose 37.7% to RM8.8mil against RM6.4mil a year ago while earnings per share climbed to 0.57 sen from 0.48 sen last year.
By geographical location, Singapore remains the company’s largest revenue contributor for its geotechnical instrumentation service offerings in the first quarter, contributing RM6.99mil followed by RM1.86mil from Malaysia.
Lee said the substantial growth in revenue and earnings in 1Q25 was mainly due to a higher number of service engagements from the provision of pile instrumentation and static load test services segment.
“Glostrext has achieved impressive year-on-year growth in the current financial quarter under review, driven primarily by an increase in pile instrumentation and static load test services. This growth is further bolstered by projects involving our WiNA-platform-based automated maintained load test system (WiNA-aMLT) in Singapore, aligning closely with the Group’s expansion strategy,” he added.
