Uchi sees high single digit revenue growth in 2019 after strong third quarter

  • Corporate News
  • Friday, 22 Nov 2019

KUALA LUMPUR: Strong demand from key clients and the weaker ringgit boosted UCHI TECHNOLOGIES BHD's third quarter earning to a new high.

The original design manufacturer reported a net profit of RM23mil in the three-month ended Sept 30 compared with RM19mil made a year ago.

Revenue climbed 18% to RM43mil.

"To the best of our knowledge, based on our customers positive outlook on demand, the Group expects a high single digit of revenue growth in USD for the financial year ending Dec 31, 2019," Uchi said in a filing with Bursa Malaysia today.

The company said it expects no significant changes in its principal geographical areas of distribution and product group contributions.

"Factors that will affect our performance include fluctuations in US dollar, material shortages or fluctuations in material prices and increasing labour costs," it said.

"Nonetheless, the Group is confident that we will remain profitable and maintain a strong balance sheet." Nine-month earnings improved to RM56.2mil, or 12.5 sen a share.

The company has proposed an interim dividend payout of 7.5 sen a share.

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