KUALA LUMPUR (Aug 23): PMB Technology Bhd saw its net profit soar more than eight times to RM11.58 million in the second quarter ended June 30, 2021 (2QFY21) from RM1.37 million a year ago, aided by improved contributions by its manufacturing & trading and construction & fabrication segments.

Earnings per share ballooned to 5.62 sen in 2QFY21, compared with 0.67 sen in 2QFY20, said the aluminium manufacturer and distributor in a filing with Bursa Malaysia.

Revenue for the quarter also swelled more than two times to RM178.25 million year-on-year (y-o-y) from RM84.87 million.

The revenue from the manufacturing & trading segment increased by 179% to RM119.5 million versus RM42.8 million a year ago, mainly due to higher sales from the metallic silicon plant during the current quarter under review.

Meanwhile, revenue from the construction & fabrication segment increased by 40% to RM58.7 million compared with RM42 million a year before, largely because the progress of certain ongoing projects was sped up.

The stellar results lifted PMB Technology's cumulative net profit for the six-month period ended June 30, 2021 (1HFY21) up 396.35% to RM18.21 million from RM3.67 million in 1HFY20. Cumulative revenue also increased by 30.55% to RM340.08 million for 1HFY21 compared with RM260.49 million a year earlier.

On prospects, the group warned that its operating costs have increased, despite having benefitted from the upward trend of metallic silicon prices. Hence, it will continue to focus on production efficiency and to undertake appropriate austerity measures.

Shares of PMB Technology closed up five sen or 0.88% at RM5.70, giving it a market capitalisation of RM1.22 billion. Over the past one year, the stock has rallied 127% from RM2.51.