KESM Industries net profit slumps in Q4 as chip market weakens


  • Corporate News
  • Thursday, 19 Sep 2019

KUALA LUMPUR: KESM INDUSTRIES BHD, the largest semiconductor burn-in and testing company in the country, recorded another dismal quarterly results on lower demand for its services.

The company blamed the weak market to the on-going trade tensions between the US and China.

"Barring further escalation of trade wars and major economies slipping into recession, the group is expecting a progressive recovery in 2020," it said in a filing with Bursa Malaysia today.

Net profit in the last quarter ended July 31 (4QFY19) fell almost 80% to RM2.3mil compared with RM11.3mil made a year ago.

Revenue declined 17% to RM70.9mil.

For the full year, net profit was RM6.3mil, or 14.6 sen a share.

The company has proposed a final dividend payout of 6 sen a share.

“As we enter another financial year, we will continue to monitor and assess the evolving business landscape and maximise our position as the leader in selected market segments," its executive chairman and CEO Sam Lim said in a statement today.

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KESM Industries , semiconductor

   

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