KUALA LUMPUR (March 13): UWC Bhd (KL:UWC) said its net profit more than doubled to RM9.69 million for its second financial quarter ended Jan 31, 2025 (2QFY2025) from RM4.81 million a year ago, amid the semiconductor industry's strong recovery.

Earnings per share rose to 0.88 sen from 0.44 sen, said the engineering support services provider in a bourse filing on Thursday.

Quarterly revenue increased 51.2% to RM92.40 million from RM61.13 million in 2QFY2024.

No dividend was declared for the quarter.

For the first half of FY2025, UWC's net profit climbed 76.8% year-on-year to RM16.19 million from RM9.16 million, as revenue surged 70.6% to RM181.82 million from RM106.58 million.

Looking ahead, UWC remains optimistic about the outlook for its business and the semiconductor industry.

Citing the latest forecast by World Semiconductor Trade Statistics, the group said the semiconductor market is expected to grow by 11.2% in 2025, driven primarily by the memory and logic sectors.

“The group continues to focus on commencing new projects, acquiring new customers and strategise long-term growth plan to optimise potential business opportunities,” it said.

The group added that it expects its new three-storey cleanroom facility to be completed by March 2025.

Shares of UWC closed up 18 sen or 9.4% at RM2.10 on Thursday, bringing the group a market capitalisation of RM2.31 billion. Since the beginning of this year, the stock has fallen 32.7%.