KUALA LUMPUR (Aug 16): SFP Tech Holdings Bhd (KL:SFPTECH) said its net profit for the second quarter grew 21.22%, contributed mainly by its engineering supporting services (ESS) segment which saw higher orders.

Net profit for the three months ended June 30, 2024 stood at RM12.89 million, compared with RM10.63 million a year earlier, while revenue rose 24.56% to RM45.39 million from RM36.44 million, according to the group's bourse filing on Friday.

This marks SFP Tech's highest quarterly net profit and revenue since its listing on the ACE Market of Bursa Malaysia in June 2022.

The engineering supporting services provider did not announce any dividend for the quarter.

For the first half ended June 30, 2024, SFP Tech’s net profit increased 5.97% to RM21.97 million from RM20.73 million in the previous year's January-June period, while revenue grew 11.31% to RM79.09 million from RM71.05 million.

SFP Tech specialises in manufacturing integrated factory and automated equipment solutions (AES) and semiconductor equipment, supported by in-house ESS with production capability to customise and process complex precision computer numerical control machined components and sheet metal fabrication.

The group operates three manufacturing plants located in Penang and has a diversified portfolio of customers across various industries, including semiconductor, electrical and electronic products, solar photovoltaic, automotive and healthcare, among others.

On its prospects, SFP Tech said its new wholly-owned unit in Singapore, SFP Integration, is expected to spearhead the group’s efforts to capture anticipated growth in the semiconductor wafer fabrication space, particularly within semiconductor equipment strategic business opportunities, which is its key focus area.

The group added that it will continue to grow its participation in both high value-added equipment module production and complex piece-part fabrication.

“The group’s vision inspection equipment handler platforms’ first-generation equipment from the design and development (D&D) activities was developed in conjunction with certain customer’s end application space. The next-in-line platform equipment resulting from the group’s D&D activities, catering to different sets of customer application space, has been completed in the fourth quarter of 2023,” said SFP Tech.

“Based on the above, the board of directors is optimistic of the group’s future prospects in FY2024,” the group added.

Shares of SFP Tech closed one sen or 1.53% higher at 66.5 sen on Friday, giving the group a market capitalisation of RM1.58 billion.