Specialty pole maker Mestron Holdings Bhd has secured an order of S$3.2 million (RM10.3 million) from Tamaco Pole Manufacturing Pte Ltd, marking its biggest order this year from a single client.
KUALA LUMPUR: Mestron Holdings Bhd (MHB) has secured another RM13 million worth of orders under the Digital Nasional Bhd (DNB) and Universal Service Provision (USP) projects.
’s (MHB) net profit jumped to RM2.27mil in the fourth quarter ended Dec 31, 2020 from RM804,000 in the same period last year.
The specialty steel pole manufacturer’s revenue for the period grew 18.8% to RM18.6mil from RM15.6mil a year ago.
For the full year ended Dec 31, 2020 (FY20), Mestron posted a net profit of RM6.14mil from RM2.26mil in FY19.
This improved earning is on the back of higher gross profit and lower operating expenditure achieved through the group s cost-control measures.
Revenue, however fell to RM56.6mil from RM68.9mil, mainly due to the Covid-19 movement restrictions in its key operating markets that has delayed product delivery schedule and the subsequent recognition of revenue.