KUALA LUMPUR: Globetronics Technology Bhd’s net profit jumped 79% to RM11.19mil in the second quarter ended June 30 (2Q) against RM6.25mil in the same quarter last year.
Its revenue was marginally higher at RM47.64mil from RM46.4mil a year ago while earnings per share (EPS) rose to 1.67 sen in 2Q versus 0.93 sen previously.
The semiconductor firm said the higher sales and net profit achieved in the current quarter were mainly due to better products mix achieved and a forex gain of RM1.3mil.
Globetronics has declared a first interim single tier ordinary dividend of 1 sen per share and a single tier special dividend of 1 sen per share, totalling RM13.4mil in respect of the financial year ending Dec 31, 2022 to depositors who are registered in the record of depositors of the company on July 5. The dividend was paid on July 20.
In the first half to June 30, Globetronics posted a net profit of RM20.63mil, up 9.8% from RM18.79mil last year, while revenue fell to RM90.27mil against RM101.8mil previously.,
It said the lower revenue achieved in the current period was mainly due to lower volume loadings from certain of the group's customers offset by higher net profit due to better products mix achieved.
Globetronics said its operations may continue to be impacted by the highly infectious Omicron variant of Covid-19.
“In addition, the semiconductor industry continues to experience challenging macroeconomic and geopolitical issues resulting in supply chain disruption, uncertain end demand, rising inflation and manpower shortages.
“The group has taken measures and shall continue to strive to minimise any potential exposures or disruptions arising from these challenges,” it said.
“The business outlook is challenging with the unpredictable market conditions. The group cautiously expect the financial performance to remain satisfactory for 2022 amidst the uncertainties ahead,” it added.