PETALING JAYA: Pantech Group Holdings Bhd
expects sustained oil prices to result in a positive impact to related capital activities such as increased spending in facilities maintenance and upgrading activities in the oil and gas industry.
In a filing with Bursa Malaysia yesterday, the company said this, in turn, would improve the demand for its products in both the domestic and international markets.For the second quarter ended Aug 31, 2024 (2Q24), Pantech’s net profit dropped to RM20.74mil from RM28.42mil in the previous corresponding period,
Revenue in 2Q24 increased to RM252.14mil from RM250.38mil a year earlier.
Basic earnings per share stood at 2.49 sen compared with 3.44 sen previously.
Pantech is involved in the trading and manufacturing of pipes, fittings, flanges, valves and other components.
