KUALA LUMPUR: Dufu Technology Bhd posted a 38% growth in net profit in the first quarter and said that strong order visibility in 2021 would contribute to thr group's earnings in the coming quarters.
"The Group is seeing healthy order flow from existing customers, and coupled with confirmed orders from new customers," it said in a filing with Bursa Malaysia today.
"The demand from hard disc drive (HDD) business remains robust with cloud demand leading the charge to fuel the Group’s growth. We are also positive on the Group’s non-HDD segment as the semiconductor and tech hardware capital spending remains strong from domestic equipment exporters," it added.
Net profit in the in the three-month ended March 31 climbed to RM19.5mil from RM14.1mil a year ago.
Revenue was up to RM79.5mil compared with RM62.9mil previously.
"The increase in revenue was mainly due to the increase in volume loading by customers related to HDD components. On top of this, the Group also registered a strong double-digit growth following the enormous demand for sheet metal welded assembly components and parts and the buoyant orders coming from control and sensors in non-HDD segment," it said.