KUALA LUMPUR: Resintech Bhd, a leading player in the manufacturing of plastic pipes, water tanks, and fittings, continues its growth trajectory with a solid performance for the second quarter (Q2) ended September 30, 2024 (FY25).
Driven by increased demand for its pipe systems and enhanced operational efficiencies, Resintech recorded a 21.17% year-on-year (YoY) increase in revenue for Q2, reaching RM33.43 million compared to RM27.58 million in the same quarter last year.
Net profit also rose by 27.45% YoY to RM1.98 million.
On a half-year basis, the group’s revenue increased by 17.61% YoY to RM62.03 million, compared to RM52.74 million in 6M FY24.
Correspondingly, net profit grew to RM4.06 million, a 33.33% increase YoY from RM2.97 million during the same period last year.
For the quarter, the group navigated challenges posed by fluctuating local currency and higher operating costs, including an unrealised foreign exchange loss of RM1.36 million.
Resintech recorded profit growth despite these factors, reflecting the group’s ongoing efforts to enhance operational efficiencies and adapt to market conditions.
Managing director Datuk Dr Teh Kim Poo said the company’s strong performance in Q2 FY25 underscores the effectiveness of its growth strategies and operational agility.
“We remain focused on solidifying our position as Malaysia’s largest plastic pipe manufacturer while capitalising on new opportunities in Sarawak and beyond,“ he said.
Resintech continues to make progress in its collaboration with SEDC Energy, a wholly-owned subsidiary of the Sarawak Economic Development Corporation (SEDC), dedicated to driving Sarawak’s renewable energy initiatives.
This partnership aligns with Sarawak’s ambitious green energy goals, including groundbreaking projects such as the production of Sustainable Aviation Fuel (SAF) from algae cultivation.
“Our partnership with SEDC Energy represents a meaningful step in advancing Sarawak’s sustainability agenda.
“Through this joint venture, we are contributing to the industrial plastics sector and transformative renewable energy projects like algae-based sustainable aviation fuel (SAF) production.
“We are optimistic about commencing operations in 2025 and participating in these groundbreaking initiatives,“ he said.
Looking ahead, the group remains cautiously optimistic.
While challenges such as fluctuating currency and rising costs persist, Resintech continues to focus on enhancing operational efficiencies and scaling its economies of scale.
