Pintaras 2Q net profit jumps 103%

KUALA LUMPUR: Pintaras Jaya Bhd reported a net profit of RM8.2 million for its second quarter (2Q) result for the financial year ending June 30, 2011, an increase of 103% from RM4 million recorded for the preceding year's corresponding quarter, due to higher contribution by the manufacturing division while contribution from the construction division was lower.

In a filling to Bursa Malaysia on Thursday, Feb 10, the company posted revenue of RM25.3 million, compared to RM26.2 million in the same period a year ago. Earnings per share stood at 10.30 sen, compared to five sen a year ago.

For the six months under review, the company posted a net profit of RM17 million compared to just RM8.8 million a year ago, an increase of 92%. Revenue stood at RM48 million for 2QFY2011, a drop of 16% from RM58 million in the preceding year.

The company reported that the construction division recorded a lower revenue of RM28.4 million compared to RM38.0 million last year, while the manufacturing division recorded a slight increase in sales of RM20.2 million compared to RM20.1 million last year.

"The increase was mainly due to better margins as a result of lower material costs and higher selling prices achieved by the metal container operation," the company said.

On future prospect, the company looks forward for a better 2H, as it is procuring more equipment and increasing its workforce to take full advantage of the expected increase in the volume of work.