Pantech’s profit dips in Q4


The pipe and valve maker said its trading division posted a lower revenue and profit before tax for the quarter and financial year 2020 due to lower sales demand and delivery in local oil and gas projects.

PETALING JAYA: Pantech Group Holdings Bhd’s net profit tumbled 35.8% to RM7.23mil for the fourth quarter ended Feb 29 from RM11.28mil a year ago, dragged by a lower sales contribution from the trading division.

In a filing with Bursa Malaysia, the pipe and valve maker said its trading division posted a lower revenue and profit before tax for the quarter and financial year 2020 due to lower sales demand and delivery in local oil and gas projects.

However, the group’s revenue for the quarter was up marginally by 0.90% to RM143.90mil compared to RM142.61mil a year ago.

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