JF Tech said global semiconductor revenue is anticipated to decline 11% in 2023.
PETALING JAYA: JF Technology Bhd
(JF Tech) expects the elevated market uncertainties to persist and continue to affect the global economy.
In a filing with Bursa Malaysia, the company said global semiconductor revenue is anticipated to decline 11% in 2023.
“On a positive side, within the semiconductor industry, there are pockets of growth coming from multiple sub-sectors such as the automotive, industrial, Internet of things and military/aerospace.”
For its third quarter ended March 31, 2023, JF Tech’s net profit dropped to RM2.5mil from RM3.17mil in the previous corresponding period, while revenue was flat at RM10.75mil, compared with RM10.31mil a year earlier.
Basic earnings per share stood at 0.27 sen versus 0.34 sen previously.
For the nine-month period ended March 31, 2023, net profit dipped to RM9.84mil from RM13.73mil a year earlier, while revenue was flattish at RM33.29mil compared with RM33.33mil previously.
On its outlook, JF Tech said the long-term prospects of the group remained bright.
It added that the board expects its current financial year performance to be satisfactory, barring any unforeseen circumstances.
