P.A. Resources Q4 profit jumps 200% to $4.5m on higher extrusion sales

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P.A. Resources posted its strongest quarterly revenue and profit in the fourth quarter of FY26, giving the Malaysian aluminium extruder momentum to execute a MYR 100 million (USD 24.8 million) expansion plan and diversify beyond its core solar-sector business.

Fourth-quarter revenue rose 25.2 per cent year on year to MYR 204.8 million (USD 50.8 million), from MYR 163.5 million (USD 40.5 million), as sales volumes increased in the group’s extrusion and fabrication segment. Profit before tax increased 140.0 per cent to MYR 22.7 million (USD 5.6 million), while profit after tax rose 200.2 per cent to MYR 18.0 million (USD 4.5 million). 

Record quarter lifts full-year results

For FY26, P.A. Resources’ revenue rose 19.9 per cent to MYR 648.6 million (USD 160.7 million). Profit before tax increased 5.0 per cent to MYR 41.5 million (USD 10.3 million), while profit after tax grew 10.8 per cent to MYR 31.0 million (USD 7.7 million). 

Group managing director Tan Sri Lau Kuan Kam said the fourth quarter was a turning point for the group.

“FY26 marked a transformative year for P.A. Resources, delivering its strongest quarterly revenue and profit after tax in Q4 FY26, driven by sustained customer demand and disciplined operational execution.”

He added that the performance reflected “the strength of our long-standing partnership with existing customers".

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First Solar deal provides growth base 

P.A. Resources has renewed its supply agreement with First Solar for a further 18 months. The contract is valued at USD 322 million, or MYR 1.31 billion (USD 324.6 million), and provides a substantial order base as the group expands its production capacity and pursues new markets. 

Lau described the agreement as a “foundation contract” for the next stage of development, stating, “This USD 322 million contract is a strong validation of our product quality and service standards.”

“As a management team, we view this as a ‘foundation contract’ that provides a solid base for our new phase of growth while we execute our broader diversification strategy,” he mentioned. 

The contract provides near-term visibility, but the company is also working to reduce reliance on a limited group of customers and end-markets.

The group’s MYR 100 million (USD 24.8 million) expansion plan remains on schedule. A new manufacturing facility aimed at different customer segments is expected to begin operations in the second half of 2027.

The plant is designed to increase monthly capacity from 3,500 tonnes to 8,000 tonnes and will use technology intended to reduce labour requirements and lower fixed costs per tonne through economies of scale. Management is targeting a payback period of about five years.

“Importantly, this plant will feature new technology that requires less labour, significantly improving our fixed-cost efficiency per tonne through economies of scale and positioning us to compete effectively on a global scale.”

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Beyond solar

P.A. Resources is expanding into building and construction applications, including aluminium profiles for a broader range of projects. It is collaborating with Chinese manufacturer MEVO Doors & Windows to target demand for energy-efficient building solutions.

The company is also commercialising aluminium and carbon-fibre harvesting poles for the plantation industry. These initiatives are designed to generate new revenue streams over the next three years by using the group’s existing extrusion capability, customer relationships and distribution networks.

Lau said the group is “actively pursuing opportunities to broaden its revenue base through new products, customers and end-markets.”

Dividend and currency exposure

The board declared an interim single-tier dividend of MYR 0.005 per ordinary share (USD 0.0012 per share), amounting to approximately MYR 7.5 million (USD 1.9 million), payable on October 31, 2026.

Together with the MYR 0.005 per-share dividend paid on March 27, total FY26 dividends reach MYR 0.01 per share (USD 0.0025 per share), unchanged from FY25. The payout represents approximately 48.5 per cent of full-year earnings per share of MYR 0.021 (USD 0.0052). 

About 90 per cent of P.A. Resources’ revenue is denominated in USD. The group uses natural hedging by matching part of its USD revenue with USD-denominated raw-material purchases and is moving towards more MYR-denominated sales to manage currency exposure.

The USD equivalents in this article use an indicative rate of about MYR 4.04 per USD on August 24, 2026.

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