PETALING JAYA: P.A. Resources Bhd recorded an improved financial performance in its latest fourth quarter ended June 30, where net profit rose year-on-year (y-o-y) by more than four times to RM14.2mil.

       Quarterly revenues had also seen a y-o-y improvement by 36% to RM73mil.

       Earnings per share for the latest quarter rose to 1.23 sen from 0.30 sen in the same quarter a year ago while net assets per share was at 15.39 sen.

       Strong growth in its bottomline in the quarter was due to the recognition of deferred tax assets of RM6.7mil, the company said in the notes to its financial statements.

       Operating profit for the latest quarter under review grew y-o-y to RM7.5mil from RM3.2mil.

       “The significantly better performance was mainly due to the benefits from economy of scale as well as extensive cost saving measures implemented by the management,” the company said of its extrusion and fabrication segment performance for the year-to-date (y-t-d) period.

       Meanwhile, it said that the aluminum billets and tolling segment’s y-t-d operating profits was significantly higher y-o-y at RM4.4mil compared to RM2.2mil due to benefits from economies of scale.

       Moving forward, P.A. Resources said that the extrusion and fabrication segment’s revenue is expected to grow as its major customer had recently extended its two year contract.

       “The management is hopeful of maintaining its current good performance,” it said.