Pentamaster's 2024 profit drops amid automotive sector downturn
Pentamaster International (HKEX:1665) announced a decrease in annual profit for the year ended December 31, 2024, reporting MYR107.1 million, a 24.7% decline from MYR142.2 million in 2023. The dip in profit is attributed primarily to a significant slowdown in the automated test equipment (ATE) segment, particularly within the automotive sector, while revenue decreased 10% year-over-year to MYR622.4 million. The automotive sector experienced a 56.6% decline. The Factory Automation Solutions (FAS) segment revenue grew by 66.1% and accounted for a larger part of the group's revenue, while medical segment now forms the largest wallet of the revenue, contributing 50% as compared to 21.4% in 2023. The company's board has not recommended a final dividend for the year. Cash and cash equivalents stood at MYR298.0 million.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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