QES Group optimistic on stable earnings

“It is encouraging to see the continued momentum in the semiconductor industry, which has inevitably led to QES recording a remarkable year for 2022,"says MD Chew Ne Weng

PETALING JAYA: QES Group Bhd remains optimistic about registering stable earnings in the quarters ahead on the back of sustained demand from automotive and industrial applications.

For the third quarter ended Sept 30, 2022 (3Q22), the automated test equipment manufacturer’s revenue was up 39% year-on-year (y-o-y) to RM72mil, from RM51.7mil previously. Net profit also rose by 152.1% y-o-y to RM9.5mil from RM3.8mil in 3Q21.