Pestech eyes 20% revenue growth in FY17

SHAH ALAM: Integrated electric power technology provider Pestech International Bhd is looking at 20% growth in revenue for the financial year ending June 30, 2017 (FY17), on the back of a strong orderbook of RM950 million.

"Our current orderbook will last until 2018. So it (the 20% growth) is not something that we have to rely on a new order for. It is achievable," its executive director Paul Lim Pay Chuan told reporters after its AGM here today.

"But of course there will be more contracts that we hope to sign before end of FY17," he added.

To date, Lim said the group is tendering for projects worth RM1.2 billion-RM1.3 billion. It has about 30% success rate for tenders.

For FY16, the group posted a net profit of RM72.83 million,on revenue of RM508.7 million.