Thursday 28 Mar 2024
By
main news image

KUALA LUMPUR: Malaysian Pacific Industries Bhd’s (MPI) net profit jumped nearly three times to RM24.06 million or 12.67 sen a share for the second quarter ended Dec 31, 2014 (2QFY15) from RM8.09 million or 4.28 sen a share a year ago.

The electronics component manufacturer, which is linked to veteran banker Tan Sri Quek Leng Chan, said its quarterly revenue rose 6.92% to RM338.29 million from RM316.4 million in 2QFY14.

In a filing with Bursa Malaysia yesterday, MPI (fundamental: 1.8 valuation: 2.4) said the better earnings performance was due to higher revenue for the smartphone sector, strengthening of the US dollar against the ringgit, coupled with lower material cost arising from lower commodity price.

It noted that its revenue from Asia and Europe for 2QFY15 increased by 5% and 3% respectively, although revenue from the United States fell 8% from the year-ago period.

For the six months ended Dec 31, 2014 (6MFY15), the group saw its net profit rise 69.64% to RM43.97 million from RM25.92 million a year ago, while revenue grew 2.93% to RM666.01 million from RM647.02 million.

Earnings per share for first half of FY15 stood at 23.16 sen against 13.71 sen a year ago.

On outlook, MPI expects that the industry growth rate for all segments will be moderate in the remaining quarters in FY15.

“Barring any unforeseen circumstances, the board expects the group’s performance to be satisfactory for the financial year ending June 30, 2015,” it added.


The Edge Research’s fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations. Go to www.theedgemarkets.com for more details on a company’s financial dashboard.

 

 

This article first appeared in The Edge Financial Daily, on January 23, 2015.

      Print
      Text Size
      Share