PETALING JAYA: Frontken Corp Bhd’s net profit rose 10.4% to RM17mil for the first quarter (Q1) ended March 31, from RM15.4mil in the corresponding quarter last year.
The engineering services company that specialises in the cleaning and surface treatment of high technology equipment attributed the earnings growth to improved revenue and better profit margin.
Frontken’s revenue grew 1.2% to RM84.9mil for Q1’20 from RM83.8mil in Q1’19, driven by its subsidiary in Taiwan.
It said this was mainly due to the positive growth of the semi-conductor business.
However, the slowdown in its customers’ business in the oil and gas (O&G) sector resulted in a drop in business for the group’s O&G subsidiaries in Malaysia, Singapore and Philippines.
During the quarter in review, Frontken’s earnings per share rose to 1.62 sen from 1.47 sen previously.
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