Cambodia Investment Review

PESTECH (Cambodia) posts $229K in Q3’22 net profit

PESTECH (Cambodia) posts $229K in Q3’22 net profit

Harrison White 

Malaysian-owned electrical transmission provider PESTECH (Cambodia) which runs to the financial year ending June 30 (CSX:PEPC) has posted an after-tax profit of $229,872 in quarterly results down 53% from the $545,210 over the same period last year.

The company was listed on the Cambodia Securities Exchange in July 2020. The IPO listed 3.945 million ordinary shares at an offer price of KHR 3,120 per share. The total gross proceeds from the IPO amount to approximately $3 million.

PEPC is currently trading at KHR 3,240 rising KHR 100 a share or a 3.7% rise from its 2020 IPO price. To read more about the company’s previous quarterly results click here.

Revenue and profit increase from last quarter

In the company’s quarterly report to market CEO Han Fatt Juan commented that total Revenue recorded during Q3 continued to be resilient, just marginally lower than the second quarter at $13.5 million. He outlined that the progression of various transmission line projects sustained the performance of the business operation in this reporting quarter.

“Operating profit was recorded at 6% improvement quarter to quarter, on the back of relatively similar level of revenue, signifying the transition into higher intensity phase of overall project execution. The overall profit after tax in the third quarter was also displaying an improved level of $229,872 from $161,107 recorded during the previous quarter,” he said.

The company stated it was hopeful that this positive trend can be replicated going forward as it builds a sustainable power infrastructure business under PESTECH (Cambodia).ou

Building network capacity

“As indicated during the last quarter, PCL continued to build up its own capability to undertake own funding requirements for its projects portfolio, and started to establish a local financing track record in order to prepare itself in charting its long term growth path as a distinct Cambodian listed entity, which is capable of commanding most of its operational and financial requirements in the future,” CEO Han Fatt Juan said.

The company stated it also observed a boost in overall profitability ratios during this reporting quarter. Return on equity was recorded at 0.86% versus 0.65%, and earnings per share rose more than 42% to KHR 12.49 in Q3.

“In a longer-term view, it is with conviction that the management aims towards exploring and adopting new initiatives to gradually widen the business coverage of PCL, in order to open new channels of development that fit well into PESTECH Group’s vision of Energising Growth Sustainably,” CEO Han Fatt Juan said.

“Shareholders of PCL will be able to witness the progressive involvement of PCL into areas relating to a circular economy, such as waste to products, and renewable waste recycling,” he added.

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