Better quarters ahead for P.I.E. on strong orders

Kenanga Research is maintaining PIB’s core net profit estimates for the financial year ending Dec 31,2021 (FY21) and FY22 at RM73.3mil and RM84.9mil, respectively. (File pic shows PIE Industrial factory in Seberang Jaya.)

KUALA LUMPUR: P.I.E Industrial Bhd (PIB) is expected to record firmer earnings in the coming quarters, given its strong order pipeline due to higher demand of end-products from consumers as the work-from-home culture persists.

In its first quarter ended March 31, the group posted record-high core net profit of RM12.1mil on the back of 161% jump in revenue.