KUALA LUMPUR: Frontken Corp Bhd’s net profit rose to RM23.29mil in the fourth quarter ended Dec 31,2020 (Q4 2020) from RM18.20mil in the same period the previous year.
Revenue rose to RM101.04mil from RM88.89mil, an increase of 13.7% compared to Q4 2019, mainly contributed by its subsidiaries in Taiwan, Malaysia and the Philippines.
For the financial year ended Dec 31,2020, the cumulative net profit soared to RM81.97mil compared to RM69.17mil for the financial year ended Dec 31,2019.
In a filing with Bursa Malaysia yesterday, the semiconductor support services company said profit after tax (PAT) of RM25.3mil for the Q4 2020 was RM5.7mil or 28.9% higher than the corresponding quarter’s RM19.6mil.
“This was the highest PAT we had ever achieved, mainly due to improved revenue and better profit margin resulting from the continual efforts to improve efficiency across the group, ” it said.
The group is also looking at the advancement and deployment of new innovative technologies following the gradual rollout of 5G network globally as these developments in electronic and technology space, coupled with strong demand for customer’s advanced nodes’ chips, would be positive for its business in years to come. — Bernama