Unisem’s 2Q benefits from weaker ringgit

Unisem (M) Bhd’s net profit rose 11.8% year-on-year (YoY) to RM42.09 million for its second quarter ended June 30, 2017 (2Q17), as a result of the weaker ringgit exchange rate.

In an exchange filing yesterday, the semiconductor device manufacturer noted its turnover for the quarter was higher by 14% YoY to RM365.74 million, while earnings per share improved to 5.47 sen from 5.13 sen over the same period.

The higher revenue and earnings were attributable to improved profit margins arising from the higher US dollar-denominated sales, coupled with the depreciating ringgit against the dollar.

Year to date, the US was the main contributor to the group’s revenue, bringing in RM314.65 million, or 43.3%, of the total topline figure of RM725.99 million.

The Asian market followed closely behind with a turn-over of RM310.79 million, while Europe brought in RM100.55 million for the six-month period.

Unisem concluded it performance will remain satisfactory until the end of the current financial year. It also declared a 3.5 sen dividend for 2Q, payable on Sept 8 this year. — TMR