KUALA LUMPUR: Plytec Holding Bhd
said a strong showing in the first half of 2024 has put it in good stead for the remainder of the year.
Group managing director and CEO Yang Kian Lock said the construction engineering solutions firm is anticipating sustained demand for its temporary works equipment on the back of the strong support of its secured order book for modular shoring systems.
He added that newly acquired subsidiary Dansea Construction Products Sdn Bhd is currently focusing on the manufacturing of Pecaform, a foundation formwork system that complements its CME
segment.
"We are also actively participating in international exhibitions to expand our global sales footprint and drive future growth.
"Moreover, with upcoming government infrastructure projects on the horizon, the Construction Industry Development Board (CIDB) will mandate the use of BIM for all major construction projects valued at RM10mil and above, we anticipate stable and resilient performance ahead from both our BMD and DDE segments," he said in a statement.
In the second quarter ended June 30, 2024, Plytec posted a net profit of RM4.18mil on the back of revenue of RM46.78mil.
On a cumulative six months basis, the group's revenue and net profit were RM92.27mil and RM7.5mil respectively.
Pre-tax profit was RM11.1mil during the period, while profit after taxation, amortisation and minority interests (Patami) reached RM7.5mil, surpassing 2023’s Patami of RM6.5mil.
