KESM 1Q net profit rises 71% on lower expenses, higher other income

TheEdge Wed, Nov 20, 2019 09:29pm - 4 years View Original


KUALA LUMPUR (Nov 20): Lower expenses and higher other income helped boost KESM Industries Bhd’s net profit to RM4.53 million or 10.53 sen a share for the first quarter ended Oct 31, 2019 (1QFY20), a whopping 71.45% more than the RM2.64 million or 6.14 sen a share for the same period last year.

This was inspite of a 11.24% decline in revenue to RM72.39 million, from RM81.56 million before, owing to lower demand for burn-in, testing and electronic manufacturing services (EMS), according to the company’s filing with Bursa Malaysia today.

KESM said it continues to focus on improving factory productivity, automation and aligning capacity to progressive increase in demand, amidst hopes for an improved US-China trade agreement.

Shares of KESM closed unchanged at RM8.39 today, valuing the company at RM360.89 million.

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