MPI posts 3Q net profit of RM32.76mil

KUALA LUMPUR: Malaysian Pacific Industries Bhd (MPI) said it expects the semiconductor industry to remain volatile and uncertain in the near future, although there are signs of gradual recovery in certain segments.

In comments accompanying its results filing, the group said it remains committed to exploring new markets and enhancing customer service implementing operational efficiency measures to contain costs.

In the third quarter of its financial year ended March 31, 2024, MPI posted a net profit of RM32.76mil, which compares to a net loss of RM17.83mil in the year-ago quarter.

The bottomline translated to an earnings per share of 16.47 sen against a loss per share of 8.97 sen.

Revenue during the quarter was RM526.06mil, improved from RM471.86mil in the comparative quarter.

MPI said revenue for the Asia, US and Europe segments were 17%, 3% and 8% higher respectively over the corresponding quarter of 2023.

Over the cumulative nine-month period, MPI recorded a net profit of RM81.43mil against RM53.2mil in 9MFY23, on flat revenue of RM1.56bil.

The board of directors declared a second interim dividend of 25 sen a share to be paid on June 26, 2024, to shareholders who names appear in the record of depositors at the close of business on June 5, 2024.

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