Improved profit margin, strong US dollar boost Unisem's Q2 earnings

PETALING JAYA: Unisem (M) Bhd saw its net profit increase 11.9% to RM42.09 million for the second quarter ended June 30, 2017 against RM37.63 million in the previous corresponding period, on the back of improved profit margin arising from higher US dollar sales achieved, coupled with the appreciation of US dollar against the ringgit.
Its revenue was 14% higher at RM365.74 million compared with RM320.89 million in the same quarter a year ago.
Unisem has proposed to declare an interim dividend of 3.5 sen per share for the quarter under review.
The semiconductor manufacturer told Bursa Malaysia that it expects the group's performance to remain satisfactory till the end of the financial year.
Unisem's net profit soared 20.3% from RM72.33 million to RM86.99 million, on the back of a 13.7% rise in revenue from RM638.7 million to RM725.99 million.
At 12.30pm, Unisem shares fell three sen to RM4 on some 1.32 million shares done, giving it a market capitalisation of RM2.94 billion.