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NewsUnisem's 1Q net profit up 47.4%, helped by improved margin
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Unisem's 1Q net profit up 47.4%, helped by improved margin
by Cals Wed 27 Apr 2016, 06:36
Unisem's 1Q net profit up 47.4%, helped by improved margin
By Supriya Surendran / theedgemarkets.com | April 26, 2016 : 2:21 PM MYTKUALA LUMPUR (April 26): Unisem (M) Bhd achieved a 47.4% jump in its net profit for the first financial quarter ended March 31, 2016 (1QFY16) to RM34.7 million, or 4.73 sen a share, from RM23.54 million, or 3.49 sen a share, in the previous corresponding quarter.
In a filing to Bursa Malaysia today, Unisem attributed its increase in profitability to higher revenue recorded as well as improved margins from better contribution in its wafer bumping and advanced package operations.
Quarterly revenue grew 13.5% at RM317.81 million from RM280.06 million a year ago due to an improvement in average selling prices as a result of the stronger US dollar against both the ringgit and the renminbi in the quarter compared to a year ago.
As for its prospects, Unisem said it expects the group's performance to improve for the second financial quarter and remain satisfactory until the end of the financial year.
At noon market close today, Unisem shares gained two sen, or 0.91%, to RM2.22 with a trading volume of 517,900 shares for a market capitalisation of RM1.63 billion.
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