Two-fold jump in QES earnings

QES managing director and president Chew Ne Weng (pic) said the semiconductor industry’s outlook continued to look favourable as demand for chips across all end segments remains robust.

PETALING JAYA: QES Group Bhd’s net profit jumped two-fold to RM3.77mil for the third quarter ended Sept 30, 2021 (Q3’21) from RM1.63mil in Q3’20 on higher revenue and better margin.

During the quarter in review, the company’s revenue rose 43.7% to RM51.67mil in Q3’21 from RM35.97mil previously on higher sales.

QES managing director and president Chew Ne Weng (pic) said the semiconductor industry’s outlook continued to look favourable as demand for chips across all end segments remains robust.

QES Group production

“As such, we expect QES to benefit from this positive outlook. The board is cautiously optimistic in meeting its double-digit growth target as compared to 2020,” he said.Year-to-date,

QES’ net profit more than doubled to RM14.57mil from RM6.69mil in the nine months to September 2020, while revenue grew 38.4% to RM158.59mil from RM114.63mil previously.