Resintech Reports Strong Q2 FY25 Results, Fueled by Robust Demand
Record Revenue and Net Profit
Resintech Bhd, a leading player in the manufacturing of plastic pipes, water tanks, and fittings, has reported a solid performance for the second quarter (Q2) ended September 30, 2024 (FY25). The company’s revenue grew by 21.17% year-on-year (YoY) to RM33.43 million, compared to RM27.58 million in the same quarter last year. Net profit also rose by 27.45% YoY to RM1.98 million.
Half-Year Performance
On a half-year basis, the group’s revenue increased by 17.61% YoY to RM62.03 million, compared to RM52.74 million in 6M FY24. Correspondingly, net profit grew to RM4.06 million, a 33.33% increase YoY from RM2.97 million during the same period last year.
Operational Efficiencies and Challenges
For the quarter, the group navigated challenges posed by fluctuating local currency and higher operating costs, including an unrealised foreign exchange loss of RM1.36 million. Resintech recorded profit growth despite these factors, reflecting the group’s ongoing efforts to enhance operational efficiencies and adapt to market conditions.
Managing Director’s Comment
Resintech’s managing director, Datuk Dr Teh Kim Poo, commented on the company’s strong performance in Q2 FY25, saying, “We remain focused on solidifying our position as Malaysia’s largest plastic pipe manufacturer while capitalising on new opportunities in Sarawak and beyond.”
Partnership with SEDC Energy
Resintech continues to make progress in its collaboration with SEDC Energy, a wholly-owned subsidiary of the Sarawak Economic Development Corporation (SEDC), dedicated to driving Sarawak’s renewable energy initiatives. This partnership aligns with Sarawak’s ambitious green energy goals, including groundbreaking projects such as the production of Sustainable Aviation Fuel (SAF) from algae cultivation.
Looking Ahead
Looking ahead, the group remains cautiously optimistic. While challenges such as fluctuating currency and rising costs persist, Resintech continues to focus on enhancing operational efficiencies and scaling its economies of scale.
Conclusion
Resintech’s strong Q2 FY25 results demonstrate the company’s ability to adapt to market conditions and capitalize on new opportunities. With its focus on operational efficiencies and strategic partnerships, Resintech is well-positioned for continued growth and success.
FAQs
Q: What was Resintech’s revenue for Q2 FY25?
A: RM33.43 million, a 21.17% increase YoY.
Q: What was Resintech’s net profit for Q2 FY25?
A: RM1.98 million, a 27.45% increase YoY.
Q: What is Resintech’s partnership with SEDC Energy focused on?
A: The partnership is focused on driving Sarawak’s renewable energy initiatives, including the production of Sustainable Aviation Fuel (SAF) from algae cultivation.