JHM’s net profit soars in Q4

PETALING JAYA: JHM Consolidation Bhd’s net profit jumped almost four fold to RM7.42mil in the fourth quarter ended Dec 31, 2016 from RM1.88mil a year earlier on the back of record revenue of RM55.3mil from RM40.1mil previously.

Ace Market-listed electronic component manufacturer attributed the growth to higher exports growth of its LED (light-emitting diode) automotive lighting to North America and a stronger US dollar against the ringgit.

For the full financial year ended Dec 31, 2016, JHM posed a net profit of RM20.33mil, a 215% growth, from RM6.45mil a year earlier. Revenue for the period rose by 47% to RM193.4mil from RM131.7mil previously.

The firm automotive LED lighting contributed about 80% of the group’s total revenue.

Shares in JHM closed three sen higher to RM2.34. On a year-on-year basis, its share prices has risen more than 400%.

The firm had recently obtained the necessary certification for it to manufacture LED systems for the aerospace industry.