MPI 3Q profit up 22%, remains cautious over US tariffs
KUALA LUMPUR: Malaysian Pacific Industries Bhd (MPI) will actively monitor the impact of the US administration's newly announced reciprocal tariffs, which have added to global economic uncertainties.
'Barring any unforeseen circumstances, the Board expects the performance for this financial year to be satisfactory,' the semiconductor company said in a filing with Bursa Malaysia.
In the third quarter ended March 31, MPI's net profit rose 22.4% to RM40mil, or earnings per share of 20.12 sen compared with RM32.7mil, or 16.47 sen in the year-ago quarter.
The higher profit was mainly due to improved operating margin and lower operating cost.
Revenue, however, fell marginally to RM519.9mil against RM526mil last year.
MPI said the lower revenue for the quarter under review was mainly due to the weaker foreign exchange rate recorded against the corresponding quarter of the last financial year.
For the nine months to March 31, MPI posted a net profit of RM110.2mil, up 35.4% from RM81.4mil while revenue grew to RM1.57bil against RM1.56bil previously.
MPI has declared a second interim single-tier dividend of 25 sen for the quarter ended March 31, to be paid on June 26.
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