Inari records higher 2Q net profit of RM107.29mil

KUALA LUMPUR: Inari Amertron Bhd recorded RM107.29 million in net profit for the second quarter (Q2) for the financial year ended Dec 31, 2021 compared with RM90.09 million in the preceding year corresponding quarter.

Revenue increased 11.5 per cent to RM420.25 million from RM376.83 million previously, backed by growth in revenue in all business segments, the semiconductor company said in a filing with Bursa Malaysia today.

For the six months period ended Dec 31, 2021, the group recorded revenue of RM851.4 million, representing a 17.5 per cent increase from RM724.5 million in the preceding year corresponding period, while net profit was better at RM214.22 million from RM160.16 million previously.

The group remains positive on its near term prospects and believes the momentum for 2022 will continue to be resilient in line with industry forecasts from good demand for its products from the continuing global transition towards 5G, digitalisation of businesses, and ongoing tight supply in the semiconductor market.

In a separate filing, Inari Amertron announced a second interim single tier dividend of 2.8 sen per share, payable on April 8, 2022. - Bernama