Higher net profit for Supercomnet

KUALA LUMPUR: Supercomnet Technologies Bhd posted higher net profit in the fourth quarter ended Dec 31,2020 and also for the financial year due to higher sales from its medical cable assembly business.

In a statement to Bursa Malaysia on Friday it said its net profit rose by 61% to RM7.38mil from RM4.56mil a year ago. Its revenue rose by 18.3% to RM38.34mil from RM32.39mil. Earnings per share were 1.09 sen compared with 0.71 sen.

Supercomnet’s core businesses are electrical wires and cables and medical cable assemblies.

It also said the 4Q financial performance had improved from 3Q with the revenue up slightly by 1.5% from RM37.76mil but net profit jumped by 43% from RM5.15mil mainly contributed by Supercomal Medical Products.

For FY20, its net profit rose by 16.5% to RM22.58mil from RM19.38mil a year ago. Its revenue increased to RM128.41mil from RM122.97mil.

“The increase of cumulative profit was mainly contributed by higher sales from Supercomal Medical Products, ” it said.

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