KUALA LUMPUR (Nov 15): Shares in sound system maker Formosa Prosonic Industries Bhd (FPI) rose 1.89% this morning after its net profit rose 8% to RM32.74 million from RM30.37 million last year as revenue grew 44% to RM590.86 million against RM411.54 million.

At 9.19am, FPI added 3 sen to RM1.61 for a market capitalisation of RM398.25 million.

For the third quarter ended Sept 30, 2019 (3QFY19) fell 5% to RM15.89 million from RM16.66 million last year, mainly weighed down by higher operating costs despite reporting a 36% jump in revenue to RM260.61 million from RM192.03 million on higher sales volume and change in sales mix.

The quarter was also weighed down by an impairment loss on trade receivables that amounted to RM3 million.