PA Resources Bhd (PA) posted a 160.7% growth in profit after tax (PAT), quarter-on-quarter (QoQ), to RM8.7 million for the first quarter of the financial year ending 30 June 2024 (Q1FYE2024).
However, the group made a lower PAT in Q1FYE2024 against Q1FYE2023 mainly due to an income tax provision of RM3.2 million for the quarter under review.
The aluminium extruder and fabricator also recorded revenue of RM129.4 million, marking an improvement of 23.5% as compared to the corresponding quarter last year.
Its group executive chairman Tan Sri Datuk Sri Chan Kong Choy said despite the multiple headwinds in the current economic climate, PA remains resilient in the business and delivers a robust set of financial performance.
“In addition, as part of our expansion plan, we have enhanced our current production line, which will increase our existing production capacity. As a result, we anticipate growth in the extrusion and fabrication segment to fulfil the demands from our customers,” he said.
Kong said given that the group’s main customer base is in the solar energy industry, it anticipate a significant uptick in orders from this industry.
“The solar energy sector’s promising outlook is backed by a heightened public consciousness and demand for clean energy solutions.
“Therefore, our expansion plan ensures that we are well-prepared to address this growing demand,” he added.
