Mesiniaga’s 2Q net profit at RM1.5mil


Mesiniaga construction - File pic

PETALING JAYA: Mesiniaga Bhd says the shortage of semiconductors coupled with the high demand for them will affect the group’s timely delivery of secured projects.

Additionally, the higher inflation rate, strong US dollar and increase in base interest rates are expected to impact the group’s performance.

The group had reported a 53% year-on-year jump in its revenue to RM54.13mil in the second quarter ended June 30 of financial year 2022 (2Q22) compared with RM35.27mil in the previous corresponding quarter.

Net profit stood at RM1.47mil for the quarter compared with a net loss of RM1.33mil in 2Q21.

Consequently, for the first half of financial year 2022 (1H22), the group revenue was up 65.3% y-o-y to RM139.7mil.

A pre-tax profit of RM2.6mil was recorded in the 1H22, compared to a pre-tax loss of RM1.0mil in the same period of 2021.

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Mesiniaga , semiconductors , shortage ,

   

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