Sibu, Sarawak, 06 August 2018 – At its Annual General Meeting 2018 held today, Pansar Berhad declared a dividend of 1.5 sen per ordinary share for its Financial Year Ended 31 March 2018.
The company reported a marked improvement in performance despite the demanding market environment in the sectors it has a presence in.
Turnover for FYE 31 March 2018 was RM386.5 Million, a RM27.6 Million or 7.7% increase over the RM 358.9 million achieved in FYE 31 March 2017.
Nett Income for FYE 31 March 2018 was RM8.7 Million, an increase of 79.2% as compared to RM4.9 Million derived in FYE 31 March 2017.
Earnings per Share for FYE 31 March 2018 was 3.08 sen as compared to 1.74 sen in FYE 31 March 2017.
“Gross profit grew to RM50.1 Million, an increase of RM0.9 Million, despite pressure from lower gross margins due to intensifying competition”, stated Dato’ James Tai, Chairman of Pansar Berhad.
He further expressed, “Individually, in FYE 31 March 2018, the Building products division has once again emerged the top revenue generator and the Marine & Industrial division the foremost gross profit contributor.”
Continued, Dato’ Tai, “Both the Agro Engineering division and the Electrical & Automation division receded in revenue, while the Mechanical & Electrical division had a stellar year in revenue growth with an increase of 59.4%”.
On initiatives to drive growth in the future, Dato’ Tai elaborated, “By venturing into the sphere of heavy machinery and equipment, the Group has got a foothold in the construction and the plantation sectors, and reflecting on the performance from these products, Pansar expects a more solid contribution in the next financial year and beyond”.
“In face of adversities in the landscape of the global economy, the push for diversity in business composition must be championed to consolidate the position of the Group into the immediate future”, Dato’ Tai articulated.
Pansar Berhad (www.pansar.com.my) is a business-to-business engineered solutions provider with a strong respected track record of over 50 years, centred on established world-renowned brands, and, reinforced by people with strong values, diverse experience and proven expertise. This adds unmatched value to the innovative solutions Pansar designs, installs, commissions and maintains for airports, hospitals, industrial complexes, oil and gas companies, power utility companies, shopping malls, universities, large commercial and residential buildings, and others, in Malaysia and beyond.
Pansar Berhad is listed under the stock code ‘PANSAR’ (8419) in the ‘Trading and Services’ section on the Main Market of Bursa Malaysia.