KUALA LUMPUR (Nov 7): PIE Industrial Bhd’s third quarter net profit fell 67.1% to RM4.6 million, from RM13.97 million a year earlier, mainly due to lower revenue and lower margins of products mix. In a filing to Bursa Malaysia, the group said net profit for the first nine months of the financial year (9MFY16), fell 62% to RM12.83 million from RM33.76 million recorded in 9MFY15. Revenue slid 3.55% to RM385.8 million from RM399.96 million. PIE Industrial said that the group will continue to strengthen its vertical integration of manufacturing capabilities and maintain sufficient manufacturing capacity to cater to outsourcing orders from new and existing customers. At this level, it is trading at a trailing P/E of 19.11 times and has a market capitalization of RM722 million.

Source: The Edge Markets November 07, 2016 10:55 UTC