Pekat Group Bhd achieved a pre-tax profit of RM 5.811 million on the back of a turnover of RM45.491 million for the three months ended 31 March 2022 from a pre-tax profit of RM5.915 million on the back of a turnover of RM41.661 million.
In a Bursa filing, it said that for the financial quarter under review, the Group recorded revenue of RM45.5 million, of which RM26.9 million was contributed by the solar photovoltaics (“PV”) segment, RM8.2 million was from earthing and lightning protection (“E&LP”) segment and RM10.4 million was from the trading segment.
It said that Revenue increased by RM3.8 million or 9.2% as compared to the preceding year’s corresponding quarter (“Q1FY21”) mainly due to higher revenue from a trading segment of RM10.4 million as compared to RM7.1 million in Q1FY21.
It said that the transition to the COVID-19 endemic phase has allowed industries to operate at full capacity and without restrictions. As such, there were more orders from the trading segment being fulfilled and delivered to customers as compared to Q1FY21.
The company said that profit before tax decreased marginally by RM0.1 million or 1.8% as compared to Q1FY21 mainly due to higher administrative expenses.
Pekat said that the increase in administrative expenses was in line with the Group’s expansion of business activities which has resulted in higher staff-related expenses.
It said that since the end of the preceding quarter, the Group had secured new contracts with a combined value of RM61.3 million, of which RM50.2 million is from the solar PV segment and RM11.1 million is from the E&LP segment.
It said that the new contracts secured to bring the Group’s outstanding order book to RM209.0 million and will contribute positively to the Group’s revenue for the financial years to come.
