27 Jul 2026 PGF Capital 1Q net profit up 20% on steady demand for insulation products

Source: https://theedgemalaysia.com/node/812175

KUALA LUMPUR (July 27): PGF Capital Bhd (KL:PGF) posted a 20.05% increase in first quarter net profit to RM8.95 million from RM7.46 million a year earlier amid steady demand for its insulation products.

Revenue for the quarter ended May 31, 2026 (1QFY2027), rose 7.76% year-on-year to RM43.74 million from RM40.58 million, with the insulation division contributing 99.6% of the amount, said the company in an exchange filing.

No dividend was declared during the quarter.

PGF said it expects the insulation segment to continue to be its primary earnings driver, supported by regulatory demand such as strict housing standards in its Oceania markets, alongside evolving energy efficiency policies and carbon pricing in Malaysia.

The company’s new 40,000-tonne plant in Kedah is also nearing completion and remains on track to begin operations in 3QFY2027, significantly scaling up its production capabilities, the company said.

In addition, PGF said it is committed to boosting its sustainability profile by recycling laminated windscreens into raw material for glass wool production, reducing its reliance on finite raw materials. It said it is also exploring opportunities to recycle retired solar panels as an additional source of glass waste for production.

As for its property development division, PGF said it has yet to report sales.

The company said its joint venture with Nexel Development KHTP Sdn Bhd is in the process of resubmitting a comprehensive development plan in Kulim Hi-Tech Park amid growing demand for lifestyle-oriented residential offerings within the park.

PGF added that its joint development with Malvest Properties Sdn Bhd in Tanjung Malim is advancing as the key infrastructure works are currently pending with the finalisation process.

At Monday’s close, PGF’s shares were down one sen or 0.56% at RM1.79, giving the company a market capitalisation of RM349.7 million.