Sam Engineering 1Q net profit jumps 87% with stronger revenue

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KUALA LUMPUR (Aug 15): Sam Engineering & Equipment (M) Bhd's net profit for the first quarter ended June 30, 2018 (1QFY19) rose 87% to RM17.59 million from RM9.39 million a year earlier, thanks to better performance of both its aerospace and equipment segments, which recorded a revenue boost.

Revenue for the quarter grew 27% year-on-year to RM178.77 million from RM141.32 million in 1QFY18, the group's stock exchange filing showed, as it posted an increase in deliveries for casing and beam products in the aerospace segment, and as its hard disk drive (HDD) businesses in the equipment segment picked up pace.

Quarterly earning per share rose to 13.01 sen, from 7.46 sen.

Moving forward, Sam Engineering said it expects revenue from the aerospace industry, which accounts for about 57% of the group's revenue, to remain stable.

Revenue from the equipment business, meanwhile, is expected to be maintained for the next quarter, on the back of an improving semiconductor industry, except for the HDD storage segment, the filing said.

Sam Engineering's share price closed lower by five sen or 0.65% at RM7.65 today, giving it a market capitalisation of RM1.03 billion.