Pantech posts higher Q1 profit

PETALING JAYA: Pantech Group Holdings Bhd posted a higher net profit of RM13.96mil in the first quarter of financial year 2018 ended May 31, on the back of higher sales demand from both of its trading and manufacturing divisions.

The steel pipe manufacturing company announced in a filing with Bursa Malaysia that its bot- tom line has increased significantly by 72.62% on a year-onyear (y-o-y) comparison.

Pantech also registered 22.23% stronger turnover in the first quarter at RM151.5mil compared with RM123.94mil a year earlier.

Pantech declared a dividend of one sen in the quarter in review. Earnings per share was 1.89 sen.