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Uchi Tech’s 1H net profit rises 21.2% to RM20.6 mil

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Uchi Tech’s 1H net profit rises 21.2% to RM20.6 mil Empty Uchi Tech’s 1H net profit rises 21.2% to RM20.6 mil

Post by Cals Wed 20 Aug 2014, 01:01

Uchi Tech’s 1H net profit rises 21.2% to RM20.6 mil
Business & Markets 2014
Written by Liew Jia Teng of theedgemalaysia.com   
Tuesday, 19 August 2014 19:22

KUALA LUMPUR: Uchi Technologies Bhd, which is involved in original design manufacturing (ODM) of electronic control systems, saw its net profit jump 22.6% to RM10.46 million in the second quarter ended June 30, 2014 (2Q FY14), thanks to lower income tax expenses.

However, revenue showed a decline of 8.8% to RM23.18 million, down from RM25.41 million previously.

In a filing with Bursa Malaysia yesterday, Uchi Technologies said its revenue in US dollar term and profit before tax for 2Q FY14 decreased by 14% and 8% respectively, as compared to 2Q FY13, mainly due to lower sales volume and rise in average fixed cost.

For the six months period, Uchi Technologies’ net profit grew 21.2% to RM20.61 million, from RM17 million a year before, also due to much lower income tax expenses. Its revenue dropped 6.9% to RM46.24 million, from RM49.68 million.
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