Unisem 3Q net profit from continuing operations up 99% at RM49m

Unisem 3Q net profit from continuing operations up 99% at RM49m
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KUALA LUMPUR (Oct 23): Unisem (M) Bhd said today third quarter net profit from continuing operations rose 98.67% to RM49.45 million from RM24.89 million a year earlier while revenue improved as the semiconductor manufacturer registered higher sales volume and better average selling prices for its products. 

In a statement to Bursa Malaysia today, Unisem said the US dollar’s appreciation against the ringgit also led to the improvement in the group’s net profit and revenue. 

Unisem said revenue from continuing operations climbed to RM357.68 million in the third quarter ended Sept 30, 2020 (3QFY20) from RM289.88 million.

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

For 9MFY20, Unisem said cumulative net profit from continuing operations rose to RM88.67 million from RM59.96 million a year earlier while revenue from continuing operations improved to RM922.92 million from RM834.84 million.

Unisem declared a dividend of two sen a share for 3QFY20.

In a separate Bursa filing today, Unisem said the ex and payment dates for the tax-exempt dividend will be on Nov 9 and 27 respectively.

At Bursa’s 12:30pm break today, Unisem settled up two sen or 0.48% at RM4.20 for a market value of about RM3.05 billion. The stock saw 608,600 shares traded.