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NewsHighlight Unisem's 4Q net profit jumps 185% on year
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Highlight Unisem's 4Q net profit jumps 185% on year
by Cals Wed 24 Feb 2016, 03:48
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[size=28]Unisem's 4Q net profit jumps 185% on year
By Tan Siew Mung / theedgemarkets.com | February 23, 2016 : 3:29 PM MYTKUALA LUMPUR (Feb 23): Unisem (M) Bhd’s net profit jumped 185% to RM60.42 million in the fourth quarter ended Dec 31, 2015 (4QFY15), from RM21.19 million a year earlier. Export-based Unisem said profit rose on higher semionductor sales, amid a weaker ringgit against the US dollar.
Unisem announced to Bursa Malaysia today that its revenue rose to RM351.97 million, from RM285.38 million.
"The increase in revenue for the current quarter and financial year to date was mainly attributable to greater demand for the products and services of the group and an appreciation in the US$/RM and US$/RMB exchange rates, as compared to the rates that prevailed in the corresponding quarter/period a year ago.
"The improvement in net profit for the current quarter and financial year to date was due to increased revenue, better contribution from our wafer bumping, and advanced package operations and lower interest expense," Unisem said.
For FY15, Unisem said net profit rose to RM155.54 million, from RM68.42 million a year earlier; while revenue increased to RM1.26 billion, from RM1.04 billion.
Looking ahead, the group expects its performance to be satisfactory, amid modest growth in the semiconductor industry.
At 2:53pm, Unisem shares rose six sen or 3% to RM2.23, for a market capitalisation of RM1.64 billion. The stock saw some three million shares traded.
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