Categories: BusinessNews

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


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.

Dayang Norazhar

Recent Posts

Ringgit opens easier against US dollar

The ringgit opened easier against the US dollar today as the greenback strengthened further following…

5 mins ago

Ascott Malaysia’s bold takeover reveals Fox Glenmarie as premier destination

by AKMAR ANNUAR ASCOTT Malaysia, a subsidiary of CapitaLand Investment Ltd, has made a significant…

11 mins ago

Global clinical development on Dengue antiviral candidate will start, Hyundai Bioscience strives to win emergency use authorization

SEOUL, South Korea, April 18, 2024 /PRNewswire/ -- South Korea's biotechnology company Hyundai Bioscience (CEO…

18 mins ago

Brewer’s Spent Yeast Market Projected to Reach $2.17 billion by 2030 – Exclusive Report by 360iResearch

PUNE, India, April 18, 2024 /PRNewswire/ -- The report titled "Brewer's Spent Yeast Market by…

27 mins ago

LEEF Brands Confirms Amendments to Convertible Debentures

VANCOUVER, BC, April 18, 2024 /CNW/ - LEEF Brands, Inc. ("LEEF" or the "Company") (CSE: LEEF) (OTC: LEEEF), a premier vertical cannabis operator, today announces that the holders of its 11.0%…

47 mins ago

SKT collaborates with Aptos Labs, Brevan Howard and Microsoft to bring global institutional finance on-chain with Aptos Ascend

SEOUL, South Korea, April 18, 2024 /PRNewswire/ -- SK Telecom (NYSE:SKM, "SKT") today announced a…

54 mins ago