KUALA LUMPUR (July 31): Globetronics Technology Bhd's net profit for its second quarter ended June 30, 2018 (2QFY18) jumped 32% to RM9.34 million from RM7.06 million a year ago, thanks to higher volume loadings of products from certain customers, and a forex gain of RM710,000.

In comparison, it incurred a forex loss of RM1 million in the year-ago quarter, Globetronics noted in a Bursa Malaysia filing today.

Its 2QFY18 revenue grew 14% year-on-year to RM71.53 million from RM62.92 million. Earnings per share rose to 1.4 sen from 1.07 sen last year.

For the first half ended June 30 (1HFY18), Globetronics, which manufactures sensors and optical products for the semiconductor and electronics industries, reported a more than two-fold y-o-y increase in net profit to RM24.53 million from RM11.73 million, while revenue jumped 40% y-o-y to RM158.01 million from RM112.75 million.

The higher revenue and net profit achieved in 1HFY18 was mainly due to the pick up in volume loadings from the mass production of new products since the third quarter of last year, the group said.

On prospects, the group said it will continue to focus on rising up the value chain and riding on the research and development initiatives in the design and development of new products with key customers, moving forward.

Globetronics shares closed unchanged at RM2.50 today, and for a  market capitalisation of RM1.64 billion.