PGF Capital Berhad (formerly known as Poly-Glass Fibre (M) Berhad) announced its interim financial results for the fourth quarter of its Financial Period Ended 28 February 2022 and its consolidated results for the Financial Year Ended 28 February 2022.
Reporting on its performance, the Group posted an increase in revenue of approximately RM3.28 million or 24% for its Q4 FPE as compared to the immediate preceding quarter. As a result, PGF has also posted an increase in its Profit Before Tax by RM1.56 million or 11,962% as compared to Q3FY2022. This brings about the revenue and PBT generated by the Group to RM57.56 million and RM3.07 million respectively for FYE 28 February 2022.
Its Fibre Glasswool and Related Products segment continues to be the largest contributor to its topline, contributing RM16.36 million in Q4 FPE 28 February 2022 which translates to approximately 97% of its total revenue.
“Although it has been a tough ride for us with the waning recovery pace of the economy and the continued rise in COVID-19 cases nationwide during the reporting quarter, the Group continues to chart another positive performance this FYE 28 February 2022,” said Executive Chairman Mr Fong Wern Sheng.
“For the meltblown nonwoven fabric business, the use of face masks remains a requirement even as Malaysia eases into the endemic period. We are optimistic that our product will continue to be in demand and will contribute to the Group’s revenue and profit in the immediate and near future.”
Through Golden Approach Sdn Bhd (“GASB”), the Group is also involved in property development. The Group owns approximately 1,311.15 acres of leasehold land located in Tanjong Malim, Perak adjacent to Proton City. PGF also owns and manages a 50-acre freshwater aquaculture centre under its subsidiary including other various businesses.
