UWC posts 25% rise in 3Q net profit

KUALA LUMPUR: UWC Bhd’s net profit rose 24.6% to RM28.71mil in the third quarter ended April 30, from RM23.04mil a year earlier.

The integrated engineering supporting service provider said the improved profitability was due to the group’s focus in delivering higher value products to customers.

Its revenue rose 21.7% to RM87.32mil against RM71.8mil a year prior mainly due to the continued demand from its global customers in the semiconductor industry

In the first nine months to April 30, UWC posted a net profit of RM76.83mil, up 6.7% from RM71.99mil while revenue rose 9.7% to RM242.49mil for RM221.08mil in the same period last year.

Executive director and group CEO Datuk Ng Chai Eng believes its business prospects are still bright namely in semiconductor and life science industries.

“Within the semiconductor industry itself, we have branched out to various subsectors of the ecosystem which include front-end semiconductor, 5G millimetre-wave testers and vehicle-to-vehicle testers, and autonomous vehicle chip testers.

“The testers, which we have built, contribute directly to the respective industries that are expected to have a booming addressable market in the coming years. As we are very excited of what we have achieved, our growth will not stop here as we continue to innovate to serve our clients better,” he said.