KUALA LUMPUR (Feb 22): Sam Engineering & Equipment (M) Bhd saw its net profit for the third quarter ended Dec 31, 2017 (3QFY18) jump 81.26%  to RM17.59 million, from RM9.7 million a year earlier.

The aircraft engine components manufacturer cum engineering service provider’s earnings per share (EPS) improved to 13.01 sen from 7.71 sen in 3QFY17.

In a filing with Bursa Malaysia, Sam Engineering said the improvements was due to higher revenue from its aerospace-related businesses, which was driven by increase in deliveries of casing products for new aircraft platforms –Airbus A320neo and Boeing 737max, new prismatic parts and beams.

Revenue for 3QFY18 amounted to RM143.49 million, up 8.3% from RM132.49 million a year ago.

Cumulative net profit for the nine-month period (9MFY18) increased 67.62% to RM42.22 million, from RM25.19 million in the previous corresponding period, while revenue grew 10.82% to RM422.45 million from RM381.21 million.

EPS went up to 32.62 sen, from 21.32 sen in 9MFY17.

Moving forward, Sam Engineering said it expect the revenue from the aerospace industry, which accounts for about 60% of the group’s revenue, to remain stable.

Revenue from the equipment business, meanwhile, is expected  to be maintained for the next quarter on the back of improving semiconductor industry except for the hard disk drive storage segment.

Sam Engineering’s share price declined four sen or 0.56% to close at RM7.16 today, giving it a market capitalisation of RM967.8 million.