KUALA LUMPUR (Aug 23): Malaysian Pacific Industries Bhd (MPI) registered a net profit of RM39.04 million in its fourth financial quarter ended June 30, 2018 from RM40 million a year ago.

Earnings per share was relatively flat at 20.55 sen from 21.06 sen before.  

Revenue inched up 1% to RM393.1 million from RM389.13 million.

In a filing with Bursa Malaysia, MPI said its Asia segment revenue was higher by 6% whilst the USA and Europe segments were both lower by 11% and 1% respectively, compared with the corresponding quarter in the previous year.

For the full financial year (FY18), group net profit declined 19.9% to RM142.46 million from RM177.92 million in FY17, while revenue remained flattish at RM1.542 billion against RM1.545 billion last year.

MPI said the decrease in net profit in FY18 was mainly due to the strengthening of the ringgit against the US dollar and higher material costs arising from the sales mix and commodity price surge throughout the year.

For FY18, a total single tier dividend of 29 sen per share has been declared, compared with 27 sen in FY17.

On its prospects, MPI anticipates the industry to grow moderately in the coming quarters. "Barring any unforeseen circumstances, the board expects the performance of the group to be satisfactory for the financial year ending June 30, 2019."

MPI closed unchanged at RM12 for a market capitalisation of RM2.387 billion.