Unisem's net profit falls over 80% in 1Q

KUALA LUMPUR: Unisem (M) Bhd said it remains optimistic of an improved performance in the next financial quarter following a plunge in net profit and revenue in the first three months of the year.

In a filing with Bursa Malaysia, the semiconductor assembly firm said net profit in 1QFY23 dove 80.56% year-on-year (y-o-y) to RM9.86mil, representing a decline in earnings per share to 0.61 sen from 3.14 sen in the same quarter last year.

Revenue meanwhile was down 16.59% y-o-y to RM354.05mil as sales volume contracted sharply.

The filing revealed that Unisem experienced a decline in revenue contribution across its business markets.

Most hard-hit was the Asian market, which recorded a 42% slump in revenue contribution to RM85.49mil as compared to the same quarter in 2022.

The directors declared a first interim dividend of two sen per share, which will be paid on May 26, 2023.