MPI 4Q profit leaps 63%; annual revenue hits record high

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KUALA LUMPUR (Aug 28): Malaysian Pacific Industries Bhd (MPI), a member of Hong Leong group, delivers a decent set of earnings with a record high annual revenue for the financial year ended June 30, 2020 (FY20).

The semiconductor manufacturer posted a net profit of RM49.04 million for the fourth financial quarter ended June 30 (4QFY20), a 63% jump against RM30.05 million in the previous corresponding quarter.

Quarterly revenue grew 17% to RM405.45 million in 4QFY20, from RM345.9 million a year ago. Earnings per share expanded to 25.73 sen from 15.82 sen in 4QFY19, its stock exchange filing today showed. 

Operation in Asia churned out the highest revenue growth of 24%, while the US contributed 14% and Europe 2%, versus the corresponding quarter last year.

The group’s quarterly net profit of RM49.04 million more than doubled from the RM22.05 million it made in the preceding 3QFY20, while revenue has gone up 77.5% from RM376.28 million in 3QFY20.

For FY20, MPI’s annual revenue was at a record high of RM1.564 billion, up almost 52% from RM1.487 billion in FY19. The previous revenues peaks were at RM1.539 billion in FY08, and RM1.526 billion in FY00.

The group’s annual profit grew to RM178.75 million against RM160 million in FY19. 

MPI’s share price climbed to a 10-year high of RM15.70 today, giving it a market capitalisation of RM3.12 billion. The stock has gained 37% year to date.  

Edited by Tan Choe Choe