MPI net profit jumps to RM81.68mil in Q1

KUALA LUMPUR: Malaysian Pacific Industries Bhd posted a net profit of RM81.68mil in the first quarter of its financial year ending Dec 31, 2021, a 47.69% jump over RM55.31mil in the previous corresponding quarter.

Earning per share rose to 41.17 sen compared to 28.05 sen in the comparative quarter.

The board of directors declared a first interim dividend of 10 sen per share to be paid on Dec 23, 2021.

For the quarter, the semiconductor manufacturer said revenue rose to RM584.5mil, a 32.67% increase over the same quarter in 2020 due to the improved performance across all segments and effective cost management.

The group said revenue in the Asia, US and Europe segments grew 30%, 31% and 43% respectively against the first quarter of the last financial year.

Moving forward, the group said the semiconductor idnustry continues to show resilience and growth in spite of the challenging operating environment due to the Covid-19 pandemic, manpower limitations and supply chain disruptions.

"Barring any unforeseen circumstance, the board expects the group's performance for the financia year ending June 2020 to be satisfactory," it said in a bourse filing.