Unisem’s Q3 net profit slips

PETALING JAYA: Unisem (M) Bhd’s net profit for the third quarter ended Sept 30, 2016 fell 3.9% to RM38.63 million from RM40.20 million a year ago due to lower revenue and higher cost of sales.
Revenue for the quarter fell 2.3% to RM321.95 million from RM329.61 million in the corresponding quarter of 2015.
The board of directors expects the group’s performance remain satisfactory till the end of the financial year.
For the nine months period, net profit rose 16.7% to RM110.95 million from RM95.12 million, due mainly to higher foreign exchange gain and lower interest expense compared with the corresponding period a year ago.
Revenue saw an improvement of 5.7% to RM960.65 million compared with RM908.46 million in the previous corresponding nine months.