Pentamaster confident in sustaining business growth in 2H23

KUALA LUMPUR: Pentamaster Corp Bhd remains forward-looking with optimism in sustaining a steady momentum of business growth in the second half of 2023 with its encouraging order book strength.

“Within its order book, both the automotive and medical segments continue to provide a bright spot in the group’s order flow. The group has come a long way in making inroads into the automotive segment and at present, the group has built a strong market positioning in the automotive segment with its comprehensive range of product solutions to cater for this growth segment,” Pentamaster said in a filing with Bursa Malaysia.

The tech firm said the automotive segment will continue to take the pole position as the group’s leading revenue contributor for the coming years as it continues to make progressive breakthroughs in its new product development and capabilities.

“As for the rest of the industry segments, the group expects to continue to witness moderate demand, especially from the electro-optical and consumer industrial and products segment in 2023,” it said.

Operationally and fundamentally, Pentamaster said it has strong foundations in place to explore and capitalise on any potential synergistic business opportunities throughout the year.

Pentamaster said the construction of its third plant is progressing as scheduled and by the end- 2023, phase one of the manufacturing facility is expected to be completed with phase two’s targeted completion in the second half of 2024.

In the second quarter ended June 30, Pentamaster’s net profit rose 23.2% to RM23.6mil from RM19.2mil in the same period last year.

Revenue for the quarter expanded 16.9% to RM176.9mil against RM151.3mil previously while earnings per share rose to 3.33 sen versus 2.70 sen a year prior.

In the first six months to June 30, it posted a net profit of RM45mil, up 13.4% from RM39.6mil while revenue rose 15.1% to RM342.2mil from RM297.4mil.