Unisem's FY20 net profit rises to RM142.79mil

KUALA LUMPUR: Unisem (M) Bhd’s net profit for the financial year ended Dec 31, 2020 (FY20) rose to RM142.79 million compared with a net loss of RM9.54 million in FY19.

Revenue also increased 15.1 per cent to RM1.29 billion from RM1.12 billion previously, it said in a filing with Bursa Malaysia today.

"The improvement in revenue and net profits was mainly attributable to higher sales volume, as well as improved average selling price and gross profit margin as compared to the same period a year ago," it said.

On its fourth quarter of FY20’s performance, the global semiconductor assembly and test services provider recorded a net profit of RM60.92 million versus RM26.85 million in net loss a year ago, while its revenue increased to RM366.37 million compared with RM284.98 million previously.

On its outlook, Unisem expects its performance for the next financial year to be satisfactory despite the economic uncertainty arising from the COVID-19 pandemic.

In the mid- to long-term, the company expects its prospects to improve on the back of healthy balance sheet and the anticipated growth in its revenue and earnings from the capacity expansion at its facilities in Ipoh, Perak and Chengdu, China. - Bernama

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