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Unisem chairman says ‘worst is over’, sees strong growth ahead
by hlk Tue 22 May 2012, 20:00
KUALA LUMPUR: Unisem (M) Bhd expects to record double-digit growth this year after its poor performance last year, as it focuses on tier-one clients and the China market.
Its chairman John Chia said on Tuesday that while the company did not do well in the first quarter of this year, the "worst is over" and that the Unisem "should see successive growth in the balance of the year".
"I think it would be a significant double digit growth for the full year and the forecast from our customers for the third and second quarters are strong," he said after the AGM.
Unisem's earnings fell 89.3% in 2011 to RM19.58mil from RM182.95mil in 2010 while revenue fell 16.8% to RM1.161bil from RM1.395bil.
In the first quarter ended March 31, 2012, Unisem recorded net loss of RM13.53mil on revenue of RM256.61mil. This was a contrast from the net profit of RM5.09mil on revenue of RM291.98mil a year ago.
Its chairman John Chia said on Tuesday that while the company did not do well in the first quarter of this year, the "worst is over" and that the Unisem "should see successive growth in the balance of the year".
"I think it would be a significant double digit growth for the full year and the forecast from our customers for the third and second quarters are strong," he said after the AGM.
Unisem's earnings fell 89.3% in 2011 to RM19.58mil from RM182.95mil in 2010 while revenue fell 16.8% to RM1.161bil from RM1.395bil.
In the first quarter ended March 31, 2012, Unisem recorded net loss of RM13.53mil on revenue of RM256.61mil. This was a contrast from the net profit of RM5.09mil on revenue of RM291.98mil a year ago.
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