KUALA LUMPUR (Aug 11): Pentamaster Corporation Bhd’s second quarter net profit rose 7.05% to RM19.20 million from RM17.94 million a year earlier, underpinned by higher revenue.

Earnings per share for the quarter ended June 30, 2022 increased to 2.70 sen from 2.52 sen, the semiconductor equipment vendor's Bursa Malaysia filing showed.

Quarterly revenue rose 15.84% to RM151.34 million from RM130.65 million on higher contribution from its automated test equipment and factory automation solutions segments, said Pentamaster.

On a quarter-on-quarter basis, the group’s net profit declined 5.85% from RM20.40 million in the immediate preceding quarter, while revenue rose 3.64% from RM146.02 million.  

For the cumulative six-month period, net profit increased 16.44% to RM39.60 million compared with RM34.01 million for the previous January-June period.

Six-month revenue increased 20.97% to RM297.37 million from RM245.81 million.

Pentamaster said it is fortunate that it has the ability to adapt to its inventory stock up approach on the back of its strong level of operating cash built over the years.

“As the group embraces the second half of 2022, the group believes it is entering a period of encouraging growth on the back of its strong order fulfilment in tandem with its key segments focus that is largely driven by the wave of the underlying major global trends.

“The group continues to witness such structural shifts in the rapid adoption of technology and intelligence across different segments in the global industries.

“Overall, the group is optimistic on achieving another record year in 2022, while mindful of the current headwinds in derailing its delivery order on hand according to the scheduled timeline,” it added.

Shares in Pentamaster closed 29 sen or 7.51% higher at RM4.15 on Thursday (Aug 11), giving the group a market capitalisation of RM2.96 billion.