Inari Amertron net profit rises 10% in 3Q on better revenue
13 May 2022, 07:26 pm
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KUALA LUMPUR (May 13): Inari Amertron Bhd posted a 10% increase in its net profit for the third quarter ended March 31, 2022 (3QFY22) to RM90.48 million from RM81.95 million in the previous year’s corresponding quarter amid higher revenue growth across all business segments.

Its revenue for the quarter grew 5% to RM360.34 million from RM342.93 million a year ago.

The group proposed a 2.2 sen per share dividend for the quarter.

According to its bourse filing, its Malaysian operations reported higher revenue of RM25.06 million, an 8% increase from RM23.1 million a year earlier, while its Singaporean operations posted a 3% increase in revenue to RM302.18 million from RM291.99 million previously.

Meanwhile, its China business reported RM30.39 million in revenue.

For the nine months ended March 31, its net profit rose 25% to RM304.7 million from RM242.11 million a year earlier, while revenue jumped 13% to RM1.21 billion from RM1.07 billion previously.

On its prospects, Inari said it remains cautious but positive on its near-term prospects for the remainder of 2022, pointing to Gartner’s forecast of a 13.6% increase in global semiconductor revenues to US$676 billion this year, and the World Semiconductor Trade Statistics expectation of a 10.4% increase in the worldwide semiconductor market.

“However, the outlook is heavily clouded by the Covid-19 lockdown situation in China and the prospects of the conflict in Ukraine expanding beyond its borders affecting both demand and further disruption of supply chains,” it said.

Inari rose five sen or 2% to close at RM2.56, giving a market capitalisation of RM9.5 billion.

Edited ByEsther Lee
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