KUALA LUMPUR: Pecca Group Bhd is banking on its aviation division to unlock its next phase of growth, according to executive director Teoh Zi Yi.
“We will continue to work toward building a strong and stable customer base in the aviation industry, tapping the capabilities and networks of our industry partners. Just last week, we formalised a strategic partnership with Global Component Asia Sdn Bhd (GCA) at the Singapore Airshow 2024,” Teoh said in a statement.
He said the partnership will provide Pecca Aviation with the opportunity to deliver aircraft interior solutions to GCA’s roster of prominent aviation customers, including airlines and maintenance, repair, and operations (MRO) players from key markets around the world.
“With the global air travel industry having staged a near-complete recovery, we believe we can achieve higher profit contributions from this business,” he added.
The automotive upholstery maker posted a record quarterly net profit of RM13.39mil in the second quarter ended Dec 31, 2023 (2Q24), up 59% from RM8.41mil in the previous corresponding period.
Revenue rose 21% year-on-year (YoY) to a record RM64.76mil, from RM53.48mil a year ago.
Pecca’s net profit margin for the quarter under review was 20.7%, a 32% increase from last year’s corresponding period.
For the first six months, Pecca posted a higher net profit of RM26.4mil on revenue of RM128.8mil.