MPI net profit jumps to RM81.68mil in Q1

As a result of improved performance and effective cost management in all divisions,  Malaysian Pacific Industries Sdn Bhd’s revenue in Asia, USA and Europe grew by 30%, 31% and 43% respectively over the first quarter of the previous financial year. Despite a challenging operating environment due to the Covid-19 pandemic, manpower constraints and supply chain disruptions, the semiconductor industry continued to show resilience and growth. While its earnings per share rose to 41.17 sen, revenue also rose to RM584.5 million up 32.67% from the same quarter last year. It also reported a net profit of RM81.68 million, a jump of 47.69% from RM55.31 million in the previous quarter. The Board of Directors therefore declared its first interim dividend of 10 sen per share on December 23, 2021.