KUALA LUMPUR (April 27): Semiconductor manufacturer Unisem (M) Bhd said today first quarter net profit from continuing operations jumped about ninefold to RM45.79 million from RM5.32 million a year earlier as revenue rose on higher sales volume.

In a statement to Bursa Malaysia today, Unisem said revenue from continuing operations rose to RM373.94 million in the first quarter ended March 31, 2021 (1QFY21) from RM255.16 million a year ago.

"The directors expect the performance of the group to be satisfactory for the next financial quarter,” Unisem said.

On a quarterly basis, Unisem said the group recorded profit before taxation of RM52.77 million in 1QFY21 against profit before taxation of RM56.84 million in the preceding 4QFY20.

"The lower profit before taxation was mainly attributable to a difference in product mix, higher payroll cost, higher depreciation charges and the depreciation of USD/MYR exchange rates,” Unisem said.

At Bursa’s 12.30pm break today, Unisem’s share price settled 19 sen or 2.36% higher at RM8.23, which gives the group a market capitalisation of about RM6.52 billion.

Unisem has 792.77 million issued shares, according to notes accompanying its quarterly earnings report today.