ATA IMS 2Q net profit jumps nearly 70% to RM52.3m

KUALA LUMPUR: ATA IMS Bhd saw its net profit climb by 68.4% to RM52.29mil in the second quarter ended Sept 30,2020 from RM31.04mil on higher sales of its precision plastic injection moulded parts to the electronics manufacturing industry.

It announced to Bursa Malaysia on Wednesday its profit before tax increased by 66.5% to RM67.70mil. Its revenue rose by 43.5% to RM1.33bil from RM931.85mil. Earnings per share were 4.35 sen compared with 2.58 sen.

ATA IMS’s core activities are manufacturing and sale of precision plastic injection moulded parts, secondary process, sub assembly and full assembly and supply of the finished products to the electronics manufacturing industry and are mainly carried out in Malaysia

It said the financial performance for 2Q was also better than the preceding quarter. The group recorded an RM 593.7mil or 79.8% increase in revenue and an increase in profit before tax of RM45mil as compared to RM22.6mil.

“It was mainly due to higher sales orders from existing customers with optimised productivity and improved operational efficiency.

“The previous quarter was also affected by an operational shutdown of approximately one month due to the imposition of the movement control order as a result of the Covid-19 virus outbreaks, ” it said.

For the period ended Sept 30, the group recorded a revenue of RM2.08bil, up 17.7% as compared to RM1.76bil in the previous corresponding period. Profit before tax increased 23.3% or RM17mil to RM90.3mil.

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