This article first appeared in The Edge Financial Daily, on April 27, 2016.
KUALA LUMPUR: Unisem (M) Bhd achieved a 47.4% jump in its net profit for the first financial quarter ended March 31, 2016 (1QFY16) to RM34.7 million from RM23.54 million in the previous corresponding quarter.
In a bourse filing yesterday, Unisem attributed the profitability improvement to higher revenue and improved margins due to better contributions from its wafer bumping and advanced package operations.
Quarterly revenue grew 13.5% to RM317.81 million, from RM280.06 million a year ago, due to improved average selling prices as a result of a stronger US dollar against both the ringgit and the yuan.
Unisem said it expects the group’s performance to improve in 2QFY16, and remain satisfactory until the end of FY16.