MPI's 4Q net profit quadrupled on forex gains and lower cost

by **Cals** Mon 24 Aug 2015, 23:29

MPI's 4Q net profit quadrupled on forex gains and lower cost

KUALA LUMPUR (Aug 24): Malaysian Pacific Industries Bhd (MPI) ([You must be registered and logged in to see this image.] Financial Dashboard)’s net profit quadrupled to RM34.32 million in its fourth quarter ended June 30, 2015 (4QFY15), from RM8.73 million a year ago, due to lower material cost and foreign exchange gains.
In a filing with Bursa Malaysia today, the semiconductor manufacturer said the group's plan to shift towards better profit margin products, also lifted earnings.
Revenue for the quarter rose 15.83% to RM372.81 million, from RM321.87 million a year ago, on better contribution from Europe, Asia and United States.
For the full year, MPI saw its net profit rise 140.3% to RM108.47 million or 57.12 sen per share, from RM45.14 million or 23.87 sen per share last year, due to the same reason.
Full year revenue came in at RM1.39 billion, a 7.75% increase from RM1.29 billion last year.
Going forward, MPI expects its business prospects to be challenging for the coming quarters, due to the current softening in demand and increased uncertainty in the macro-economy.
"Barring any unforeseen circumstances, the board expects the performance of the group to be satisfactory for the financial year ending June 30, 2016," it added.
MPI's shares closed seven sen or 1.08% lower at RM6.42 today, with 621,500 shares traded. At RM6.42, it had a market capitalisation of RM1.28 billion.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)