PLYTEC announced its third quarter results for the financial year ending 31 December 2023 recording an unaudited profit before tax and profit after tax of RM6.2 million and RM4.4 million respectively on the back of RM45.6 million revenue.
For the cumulative 9-month period ended 30 September 2023, the unaudited revenue, PBT and PAT were RM123.1 million, RM12.9 million and RM9.6 million respectively. The group said domestic clients accounted for approximately RM119.9 million whereas its overseas clients from Singapore and Thailand contributed RM3.2 million in revenue.
The group is scheduled to be listed on the ACE Market of Bursa Malaysia Securities Berhad on 15 November 2023.
Commenting on the results, Group Managing Director/Chief Executive Officer Yang Kian Lock said, “We are pleased with our financial results for the third quarter of 2023. Thus far in 2023, we have made significant capital expenditure to expand our rental assets portfolio and focus on our digital design and engineering segment, as we anticipate these endeavors to contribute positively to our financial performance in the future.
PLYTEC also recently expanded its presence into Hungary in Europe.