Unisem benefits from US dollar’s strength

PETALING JAYA: Unisem (M) Bhd reported a 20% increase in net profit to RM37.63 million for the second quarter ended June 30, 2016, from RM31.38 million in the previous corresponding period, thanks to improved average selling prices due to the appreciation of the US dollar.
Revenue expanded 7.4% from RM298.79 million to RM320.89 million.
The company has proposed to declare an interim dividend of 3.5 sen per share.
In a filing with the stock exchange, the semiconductor assembly and test services provider said the better results were also driven by higher contribution from the wafer bumping and advanced package operations.
The company expects its performance to improve for the third quarter and to remain satisfactory till the end of the financial year.
Unisem’s six-month net earnings rose 31.7% from RM54.92 million to RM72.33 million. Revenue came in at RM638.7 million, a 10.34% growth compared with RM578.85 million in the same period a year ago.
The counter, however, dropped 17 sen or 6.25% to RM2.55 last Friday on some 5.54 million shares done.