PENTAMASTER Corp Bhd’s net profit in the second quarter ended June 30, 2022 (2Q22), fell slightly to RM19.2 million from RM20.4 million in the preceding quarter.
However, on a year-on-year basis, the company saw its net profit increase 7% from RM17.93 million in the corresponding period a year ago.
In 2Q22, the group recorded a higher revenue at RM151.3 million compared to the revenue of RM146 million in 1Q22.
As it enters the second half of the year, Pentamaster said it believes it is entering a period of encouraging growth on the back of its strong order fulfilment.
The group said in an exchange filing yesterday that it remains steadfast in its focus in diversifying its geographical presence, products and solutions, as well as across different business segments in keeping with its high growth and margin over the long-term horizon.
Case in point — the group’s rapid transition to the automotive segment saw growing revenue and encouraging orderbook
volume where such momentum was generally fuelled by the emergence of electric vehicles, whose influence extends far beyond the automotive industry. This evolution, along with other development such as self-driving technologies entails huge opportunity for the group.
Following this trend and given the group’s comprehensive product portfolio within the segment that covers end-to-end solutions, the group is ready to reinforce its growth path in the automotive industry.
“Overall, the group is optimistic on achieving another record year in 2022, while mindful of the current headwinds in derailing its delivery order on hand according to the scheduled timeline,” the company told the local bourse.
Over the long run, it said that the group’s growth initiatives are guided by its Grand Roadmap and Key Focus 2022-2025, which aims towards achieving a solid and sustainable business growth through the implementation of its various core
strategies that include product innovation, expansion and diversification, among others. — TMR / pic TMR File