Malaysian Pacific Industries records 53% YoY 4Q21 net profit increase

By NUR HAZIQAH A MALEK / Pic by TMR FILE PIX

Malaysian Pacific Industries Bhd (MPI) has recorded a 53% increase year-on-year (YoY) in its net profit for the fourth quarter ended June 30, 2021 at RM75.10 million versus the previous RM49.05 million.

This is due to its cost management strategy and higher revenue contribution from all segments, which stood at RM537.34 million against RM405.45 million recorded in the previous year.

For the entire year, the group’s net profit stood at RM271.82 million, 78% higher YoY against the previous year’s RM152.99 million, whereas its revenue stood at RM1.99 billion versus the previous year’s RM1.56 billion.

For the prospects, the group noted that the semiconductor industry continues to show resilience and growth despite the challenging operating environment due to the pandemic.

“Barring any unforeseen circumstances, the board expects the group’s performance for the financial year ended June 30, 2022 to be satisfactory,” it said.

Meanwhile, the board did not recommend any final dividend for the financial year ended June 30, 2021, and the financial year-to-date saw a total single tier dividend of 30 sen per share declared.

The group’s counter price saw a 0.41% decrease on Monday to RM44.02 against its previous close of RM44.20.