Oiltek: $0.889, buy on pull back
Key Financial Highlights
For 3Q2024, Oiltek’s revenue surged by 14.5% to RM67.60 million, while gross profit saw an impressive increase of 75.2% to RM19.91 million. This growth in gross profit elevated the gross profit margin by 10.2 percentage points, reaching 29.5%. The profit after income tax also climbed by 83.2% to RM8.98 million.
Over the nine-month period (9M2024), the company recorded a 23.8% rise in revenue, totaling RM168.05 million. The gross profit increased by 57.6% to RM39.42 million, improving the gross profit margin by 5.1 percentage points to 23.5%. Profit after income tax grew significantly by 63.9%, reaching RM19.26 million.
Order Book and Future Outlook
As of the announcement date, Oiltek’s order book stands at approximately RM400.9 million, expected to be fulfilled over the next 18 to 24 months. Despite the uncertainties in the global economy, the company remains optimistic about its growth prospects, driven by the industries it serves.
This detailed financial performance and strategic positioning suggest a positive outlook for Oiltek International, potentially influencing shareholder value favorably.
Oiltek International Reports 63.9% Profit Surge Amid Booming Biodiesel and Sustainable Aviation Fuel Markets
2.) Oiltek Shares Soar 400% YTD: Will Parent Company Koh Brothers Eco Ride the Wave?
Oiltek Shares Soar 400% YTD: Will Parent Company Koh Brothers Eco Ride the Wave?
Thank you
