KUALA LUMPUR (April 25): Unisem (M) Bhd recorded a 29% jump in its net profit for the first quarter ended March 31, 2017 (1QFY17) to RM44.9 million from RM34.7 million a year ago, mainly due to improved profit margin, higher interest income and lower interest expense.

Quarterly revenue climbed 13% to RM360.25 million from RM317.81 million a year ago, on improved contributions from its Asian and US markets, the semiconductor packaging and test services provider said in a bourse filing today.

Sales to the US and Asia rose 23% and 10% respectively — with both segments registering profits — though European sales declined about 2% and incurred losses.

"The increase in revenue for the current quarter was mainly attributable to higher average selling prices coupled with the appreciation of US dollar-ringgit and US dollar-renminbi exchange rates, as compared to the prevailing rates in the corresponding quarter a year ago," Unisem added.

Its board of directors expect the group's performance to remain satisfactory till the end of the financial year.

At 5pm, Unisem shares gained 9 sen or 2.8% to RM3.26, giving it a market capitalisation of RM2.39 billion.