KUALA LUMPUR (Nov 25): Pipe manufacturer Engtex Group Bhd registered a 33.2% increase in net profit to RM13.86 million, from RM10.4 million a year ago, for the third quarter ended Sep 30, 2014 (3Q14), due to increase in market demand of certain metal related trading products.
Meanwhile, its revenue grew 14.5% to RM301.8 million for the period under review, versus RM263.5 million a year ago.
Engtex’s basic earnings per share (EPS) followed a similar upward trend to expand 26.7% year-on-year, to 7.07 sen, from 5.58 sen.
In the cumulative nine-month period, Engtex registered RM39.17 million in net profit, marginally growing from RM38.47 million same time last year.
Revenue for the nine-month period stood at RM893.4 million, rising 10% y-o-y from RM812.2 million.
EPS was 20.29 sen for the period, lower than 20.55 sen a year ago.
For the cumulative period, revenue from Engtex’s wholesale and distribution division rose 10% to RM557.7 million, from a year ago.
The segment contributed 62.4% and 59.8% of the group’s total revenue and total segment profit respectively, for the nine month period.
The manufacturing segment also did better, registering revenue growth of 7.5% to RM284 million, from a year ago; and contributed 31.8% of the group’s total revenue for 9MFY14.
In terms of PBT, the segment declined to RM17.6 billion, from RM29.9 million a year ago, due to market price competition for certain manufactured steel products.
The segment contributed 31.2% to the group’s PBT for the 9MFY14.
The property development arm’s revenue of RM51.7 million for 9MFY14, was 25.8% higher than RM41.1 million in 2013. This segment contributed 5.8% of the group’s total revenue.
The segment’s PBT rose 18.75% y-o-y to RM3.8 million.
Engtex' share price closed 6 sen or 3.23% higher today at RM1.92, giving it a market capitalisation of RM370.28 million.