PEC profit pushes up 32% to S$3.3m

Strong 1QFY13 results for new financial year.

PEC Ltd. (PEC, and together with its subsidiaries, associated companies and joint venture companies, the Group) announced revenues increased by 9% to S$120 million and net attributable profit rose to S$3.3 million for the first quarter ended 30 September 2012 (1Q FY13).

"These improvements were driven by the continued strong execution of various EPC (engineering, procurement and construction) projects and maintenance contracts, as well as the tight rein over costs. As a result, net cashflow generated from operations also expanded to S$12.3 million in 1QFY13, rising from S$0.9 million in the previous corresponding quarter," PEC said in its results release.

Mr Robert Dompeling, PEC’s Group Chief Executive Officer, commented: “We were able to achieve these results because of our team’s hard work and steadfast focus on operational excellence.

“Going forward, global economic uncertainty, price competition and cost pressures, especially the tight labour market will continue to pose challenges to the Group’s business. However, there has been an encouraging trend in project enquiries in the Middle East and Asia and we are also seeing an increase in demand for maintenance services as clients continue to enhance their existing facilities.” added Mr Dompeling.

As at 30 September 2012, the Group had a net cash position of S$118.7 million or 47 S¢ per share. Its orderbook stood at S$212 million, which excludes maintenance projects and the project works announced recently.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia