KUALA LUMPUR: Malaysian Pacific Industries Bhd (MPI), a semiconductor manufacturing and testing company, posted its best quarterly earnings in years as the global chip shortage pushed prices higher.
Net profit in the third quarter ended March 31 more than tripled to RM74.4mil, or 27.55 sen a share compared with RM22mil, or 11.6 sen a share made a year ago.
Turnover surged 40% to RM526.6mil.
In a filing with Bursa Malaysia today, MPI said revenue contribution from Asia, USA and Europe expanded 35%, 51% and 51%respectively during the quarter under review.
"The semiconductor industry continues to show resilience and growth in spite of the challenging operating environment due to the COVID-19 pandemic and the prospect of an uneven recovery of the global economy," it said.
"Barring any unforeseen circumstances, the Board expects the Group’s performance for the financial year ending June 30 to be satisfactory," it added.
MPI has declared an interim dividend payout of 20 sen a share.