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MPI 1Q profit soars 125 times to RM18m, pays 5 sen dividend

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MPI 1Q profit soars 125 times to RM18m, pays 5 sen dividend Empty MPI 1Q profit soars 125 times to RM18m, pays 5 sen dividend

Post by Cals Thu 14 Nov 2013, 21:19

MPI 1Q profit soars 125 times to RM18m, pays 5 sen dividend
Business & Markets 2013
Written by Jeffrey Tan of theedgemalaysia.com   
Thursday, 14 November 2013 19:08
KUALA LUMPUR (Nov 14): Malaysian Pacific Industries Bhd’s (MPI) net profit soared 125 times year-on-year to RM18 million in the first quarter ended September 30, 2013 from RM143,000 a year earlier.

Revenue grew 4% to RM331 million from RM318 million, MPI, a semiconductor manufacturer, said in a statement to Bursa Malaysia.

MPI which comes under the Hong Leong Group said the significantly higher profit was due to the strengthening of the US dollar against the ringgit, lower commodity prices, and the planned shift towards better profit margin products.

MPI said revenue from Asia and Europe rose 5% each while the US segment's top line improved 1%. MPI said the market outlook remains challenging.

The firm plans to pay a tax-free dividend of five sen a share for the quarter in review.
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