Unisem posts lower 3Q net profit of RM40.27mil, div of 2c/share

KUALA LUMPUR: Unisem (M) Bhd posted a 20.63% lower net profit of RM40.27mil in the third quarter ended Sept 30, 2021, as compared to RM50.74mil in the previous corresponding quarter on the back of lower revenue at its Ipoh operations.

In a filing with Bursa Malaysia, the group said its operations had been affected by plant closures and headcount limitation during the quarter as a result of the enhanced movement control order and instruction by the Health Ministry.

Recall that from Sept 8 to 13, the group had shuttered operations at its Ipoh plants in accordance with a directive from the Health Ministry.

In the quarter under review, revenue came in at RM366.36mil, which was 2.4% higher than RM357.68mil in the same quarter last year.

The board of directors approved a second interim dividend of two sen per share, going ex on Nov 11, 2021, and payable on Nov 26, 2021.

Over the nine months to Sept 30, Unisem recorded revenue of RM1.14bil, which was 23.8% improved year-on-year, and a net profit of RM140.32mil, which was 71.4% higher from the previous corresponding quarter.

The group attributed the improved year-to-date revenue performance to higher sales volume while net profit benefited from higher revenue, higher interest income and lower interest expense.

"Despite the challenges operating in the midst of the Covid-19 pandemic, including manpower limitations, logistic and supply chain interruptions, the outlook of the semiconductor industry remains positive as the demand for chips across all end segments remains robust.

"The Directors expect the performance of the Group to be satisfactory for the remaining period to the end of the financial year," the group said.
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