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PENTAMASTER INTERNATIONAL LIMITED
檳傑科達國際有限公司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 1665)
UNAUDITED FIRST QUARTERLY RESULTS
ANNOUNCEMENT FOR THE THREE MONTHS ENDED
31 MARCH 2021
The | board (the | "Board") | of | directors ("Directors") of Pentamaster International Limited |
(the | "Company") | is pleased | to | announce the unaudited consolidated financial results of the |
Company and its subsidiaries (collectively, "we", "us", "our" or the "Group") for the three months ended 31 March 2021 ("1Q2021"), together with the comparative figures for the three months ended 31 March 2020 ("1Q2020") (expressed in Ringgit Malaysia "MYR").
The unaudited first quarterly results of the Group is released in conjunction with the quarterly results announcement of Pentamaster Corporation Berhad, the holding company of the Company in Malaysia pursuant to the Listing Requirements of the Main Market of the Bursa Malaysia Securities Berhad.
1
FINANCIAL HIGHLIGHTS
For the three months ended 31 March | 2021 | 2020 |
(Unaudited) | (Unaudited) | |
MYR'000 | MYR'000 | |
Revenue | 115,059 | 100,040 |
Gross profit | 34,835 | 34,115 |
Profit for the period | 26,509 | 26,185 |
Earnings per share (sen) | 1.66 | 1.64 |
Basic and diluted | ||
- Revenue of the Group was MYR115.1 million, representing an increase of approximately 15.0% over the corresponding period last year.
- Profit for the period stood at MYR26.5 million, representing an increase of approximately 1.2% over the corresponding period last year.
- Cash and bank deposits of MYR293.0 million as at 31 March 2021 against MYR300.3 million as at 31 December 2020.
2
UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE THREE MONTHS ENDED 31 MARCH 2021
Individual Quarter | Cumulative Year | ||||||
3 Months Ended | Financial Period Ended | ||||||
31/3/2021 | 31/3/2020 | 31/3/2021 | 31/3/2020 | ||||
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | ||||
MYR'000 | MYR'000 | MYR'000 | MYR'000 | ||||
Revenue | 115,059 | 100,040 | 115,059 | 100,040 | |||
Cost of goods sold | (80,224) | (65,925) | (80,224) | (65,925) | |||
Gross profit | 34,835 | 34,115 | 34,835 | 34,115 | |||
Other income | 10,831 | 9,540 | 10,831 | 9,540 | |||
Administrative expenses | (15,141) | (14,056) | (15,141) | (14,056) | |||
Distribution costs | (3,105) | (1,887) | (3,105) | (1,887) | |||
Other operating expenses | (42) | (24) | (42) | (24) | |||
Operating profit | 27,378 | 27,688 | 27,378 | 27,688 | |||
Finance costs | (24) | (38) | (24) | (38) | |||
Share of results of an associate | (125) | (349) | (125) | (349) | |||
Profit before taxation | 27,229 | 27,301 | 27,229 | 27,301 | |||
Taxation | (720) | (1,116) | (720) | (1,116) | |||
Profit and total comprehensive | 26,509 | 26,185 | 26,509 | 26,185 | |||
income for the period | |||||||
Earnings per share attributable | |||||||
to owners of the Company (sen):- | |||||||
- Basic and diluted | 1.66 | 1.64 | 1.66 | 1.64 |
The unaudited condensed consolidated statement of profit or loss and other comprehensive income for the three months ended 31 March 2021 should be read in conjunction with the audited financial statements for the year ended 31 December 2020.
3
UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2021
As at | As at | ||
31/3/2021 | 31/12/2020 | ||
(Unaudited) | (Audited) | ||
MYR'000 | MYR'000 | ||
ASSETS | |||
Non-current assets | |||
Property, plant and equipment | 112,010 | 114,414 | |
Leasehold land | 7,295 | 7,331 | |
Goodwill | 4,495 | 4,495 | |
Intangible assets | 32,087 | 32,058 | |
Interest in an associate | 22,392 | 7,583 | |
Other receivables, deposits and prepayments | 10,966 | 10,609 | |
189,245 | 176,490 | ||
Current assets | |||
Inventories | 41,640 | 33,836 | |
Trade receivables | 158,356 | 139,896 | |
Other receivables, deposits and prepayments | 4,503 | 3,560 | |
Amount due from ultimate holding company | 29 | - | |
Amount due from related company | 33 | - | |
Derivative financial assets | - | 3,336 | |
Other investments | 889 | 676 | |
Tax recoverable | 1,286 | 1,202 | |
Cash and cash equivalents | 292,988 | 300,280 | |
499,724 | 482,786 | ||
Total assets | 688,969 | 659,276 | |
4
UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2021
As at | As at | ||
31/3/2021 | 31/12/2020 | ||
(Unaudited) | (Audited) | ||
MYR'000 | MYR'000 | ||
EQUITY AND LIABILITIES | |||
EQUITY | |||
Share capital | 8,054 | 8,054 | |
Reserves | 554,654 | 525,491 | |
Total equity | 562,708 | 533,545 | |
LIABILITIES | |||
Current liabilities | |||
Trade payables | 64,402 | 62,671 | |
Other payables, accruals and provisions | 36,534 | 37,280 | |
Contract liabilities | 14,906 | 15,471 | |
Amount due to a fellow subsidiary | 5 | 6 | |
Derivative financial liabilities | 1,701 | - | |
Bank borrowing | 2,875 | 2,976 | |
Provision for taxation | 1,096 | 744 | |
121,519 | 119,148 | ||
Non-current liabilities | |||
Deferred income | 39 | 1,746 | |
Deferred tax liabilities | 4,703 | 4,837 | |
4,742 | 6,583 | ||
Total liabilities | 126,261 | 125,731 | |
Total equity and liabilities | 688,969 | 659,276 | |
The unaudited condensed consolidated statement of financial position as at 31 March 2021 should be read in conjunction with the audited financial statements for the year ended 31 December 2020.
5
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Pentamaster International Ltd. published this content on 07 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 May 2021 06:59:07 UTC.