Pansar announces two per cent dividend despite challenges
KUALA LUMPUR: Pansar Bhd announced a two per cent dividend of one sen per ordinary share for its financial year ended March 31, 2017 (FY17) despite facing many obstacles last year. The announcement was made at its annual general meeting held last week.
The company reported a challenging fiscal year in all its businesses, with total turnover of RM358.9 million, nett income of RM4.9 million, and earnings per share of 1.74 sen.
This results were compared with a total turnover of RM360.4 million, net income of RM7.9 million, and earnings per share of 2.81 sen recorded in the financial year ended March 31, 2016 (FY16).
“Though revenue was marginally lower in FY17 as opposed to FY16, gross profit was higher, despite the significant weakening of the ringgit during the said period.
“This is largely attributed to an effective hedging regime, better product mix, and more efficient logistics procedures”, remarked Pansar's chairman Dato James Tai.
He elaborated, “Among the five business divisions, building products remained the top
Though revenue was marginally lower in FY17 as opposed to FY16, gross profit was higher, despite the significant weakening of the ringgit during the said period. Dato James Tai, Pansar chairman
revenue generator while marine and industrial remained the most profitable.
“The group is continuously leveraging on the individual strengths of all its business divisions and the collective dynamism of the group, to scout, identify and capitalise on areas where business can be expanded.”
On strategies to move forward, Tai highlighted that overall the group aims to double its marketing efforts, realigning more staff to carry out sales, and exercise better control over credit and inventory.
He also pointed out that Pansar would undertake measures to reduce delivery times, improve logistic channels as well as minimise transaction overheads.
At the same time, new distributorships for complementary product lines, new business applications with existing product lines, broadening of product distribution into new territories, emphasis on quality differentiation and packaging engineering solutions, are but a number of avenues the group are constantly pursuing on, he emphasised.
Pansar is a business-to-business engineered solutions provider with a strong respected track record of over 50 years, centred on established world-renowned brands, and, reinforced by people with strong values, diverse experience and proven expertise.
This adds unmatched value to the innovative solutions Pansar designs, installs, commissions and maintains for airports, hospitals, industrial complexes, oil and gas companies, power utility companies, shopping malls, universities, large commercial and residential buildings, and others, in Malaysia and beyond.
Pansar is listed under the stock code ‘PANSAR' (8419) in the ‘Trading and Services' section on the Main Market of Bursa Malaysia.