KUALA LUMPUR (Aug 16): MMS Ventures Bhd's net profit for the second quarter ended June 30, 2016 (2QFY16) jumped 59.9% to RM5.71 million from RM3.57 million in the same quarter last year, thanks to a 75.5% rise in revenue.

Quarterly revenue stood at RM20.07 million compared to RM11.43 million in 2QFY15, its bourse filing today showed. MMS Ventures's board of directors declared a dividend of one sen for the period, payable on Oct 17.

MMS Ventures said the improvement in revenue was mainly due to higher sales of machines to light-emitting diode (LED) manufacturers, especially those from the smart devices and automotive industry.

"Newly acquired customers during the quarter have also contributed to this remarkable increase during the quarter," the group said. It is involved not only in the design and manufacture of LED, but also in semiconductor industrial automation systems and machinery.

MMS Ventures net profit for the cumulative six month ended June 30, 2016 (1HFY16) was at RM5.49 million, up 5% from RM5.23 million last year, due to fair value adjustments made on other investments and the weakened foreign exchange rate for the US dollar against the ringgit during the period.

Revenue, on the other hand, rose 25.3% to RM23.91 million for 1HFY16 compared to RM19.08 million in previous corresponding period.

On prospects, MMS Ventures merely said it expects to "remain profitable for the rest of the year".

The company's share price gained 2.5 sen or 3.7% higher to close at 69.5 sen today, valuing it at RM112.02 million.