MPI says 1Q net profit up 48% to RM82m, declares 10 sen dividend

MPI says 1Q net profit up 48% to RM82m, declares 10 sen dividend
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KUALA LUMPUR (Nov 24): Malaysian Pacific Industries Bhd (MPI)’s net profit rose 47.69% to RM81.68 million for the first quarter ended Sept 30, 2021, from RM55.31 million a year earlier, due to higher revenue across all segments and effective cost management.

Earnings per share rose to 41.17 sen from 28.05 sen, the group's filing with Bursa Malaysia showed.

Quarterly revenue jumped 32.67% to RM584.52 million from RM440.59 million in the same quarter last year, with the Asia, USA and Europe segments growing by 30%, 31% and 43% respectively.

The semiconductor manufacturer declared an interim dividend of 10 sen per share, payable on Dec 23.

On a quarter-on-quarter basis, MPI’s net profit was up 8.76% from RM75.1 million in the immediate preceding quarter, while revenue increased 8.78% from RM537.34 million.

MPI said the semiconductor industry continues to show resilience and growth in spite of the challenging operating environment due to Covid-19, manpower limitations and supply chain disruptions.

“Barring any unforeseen circumstances, the board expects the group’s performance for the financial year ending June 30, 2022 to be satisfactory,” it added.

MPI's share price closed 22 sen or 0.46% higher at RM48.14, valuing the group at RM9.57 billion.

S Kanagaraju