MPI registers 50% jump in Q1 net profit 

KUALA LUMPUR: Malaysia Pacific Industries Bhd (MPI), a semiconductor company, reported a surge in quarterly profits boosted by improved margin amid higher demand from clients in Asia and the US.

Net profit jumped 50% to RM50.1mil from RM36.8mil in the three-month ended Sept 30.

Revenue increased to RM440mil from RM369mil previously.

"The Board anticipates that the operating environment will remain challenging due to the COVID-19 pandemic and uncertainties of the global economy in the coming quarters," MPI said in a filing with Bursa Malaysia today.

The group said it will continue to focus on its business strategies and operational efficiencies to ensure sustainability and strengthen its fundamentals in conducting business.

"Barring any unforeseen circumstances, the Board expects the Group’s performance for the financial year ending June 30, 2021 to be satisfactory," it said.

MPI has declared an interim dividend of 10 sen per share.

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