PETALING JAYA: Frontken Corp Bhd’s net profit rose 21.7% to RM24.74mil for the second quarter (Q2) ended June 30, 2021, from RM20.33mil in the corresponding quarter last year on higher revenue.
The semiconductor support services provider announced a first interim dividend of 1.5 sen per share in respect of the financial year ending Dec 31, 2021.
During the quarter in review, its revenue increased 24% to RM108.63mil on contributions from its operations in Taiwan, Malaysia and Singapore.
“Volume in the semi-conductor space picked up significantly due to higher demand and strong orders from one of our customers’ advanced nodes chips which had benefited our Taiwan subsidiary,” the company said in a filing with Bursa Malaysia.
For the cumulative period, Fronken’s net profit was up 27.6% to RM47.65mil, compared with RM37.34mil in the six months to June 2020, while revenue was up 23% at RM212.14mil, compared with RM174.49mil previously.
Frontken said while it was cautiously optimistic that its performance for the remaining months would be satisfactory, it would continue to strive for operational and cost efficiencies to better manage the challenging operating environment.