PETALING JAYA: Pantech Group Holdings Bhd will prudently continue to strengthen its existing revenue-generating businesses and operation productivity.

       In a filing with Bursa Malaysia, the group said it will also seek opportunities to grow its core businesses, both local and overseas, by enhancing its competitiveness as the major pipes, valves and fittings solutions provider to the oil and gas and related upstream and downstream industries.

       For the third quarter ended Nov 30, 2023, Pantech’s net profit dipped to RM21.15mil from RM34.66mil in the previous corresponding period, mainly due to lower earnings from its trading and manufacturing divisions.

       Revenue in the third quarter dipped to RM221.44mil from RM299.94mil a year earlier, while basic earnings per share stood at 2.55 sen versus 4.22 sen previously.

       The company also declared a third interim single tier dividend of 1.50 sen, to be paid on March 26.