KUALA LUMPUR (June 21): UWC Bhd has reported its highest ever quarterly net profit of RM28.71 million, supported by forex gains and higher operating income.

The net profit registered for the third quarter ended April 30, 2022 (3QFY22) is 24.62% higher than the RM23.04 million posted a year earlier.

Earnings per share rose to 2.61 sen from 2.09 sen, the semiconductor test equipment maker’s Bursa Malaysia filing showed.

Quarterly revenue rose 21.66% to RM87.32 million from RM71.78 million, fuelled by continued demand from the group’s global customers.

On a quarter-on-quarter basis, net profit came in higher by 14.50% from RM25.08 million recorded for 2QFY22, while revenue rose 9.27% from RM79.92 million.

For the first nine months of FY22, the group’s net profit was up 6.73% at RM76.83 million, from RM71.99 million in the same period last year.

Nine-month revenue rose 9.68% to RM242.49 million, from RM221.09 million.

Moving forward, UWC said as the group taps into the opportunities arising from the upcoming trends of 5G and artificial intelligence technologies, it is striving to build continuous flows of strong order books of front end semiconductor equipment, life science and 5G test equipment.

“The functional tester product is expected to be launched by end of this calendar year, while the new simulation system tester product is expected to be ramped up progressively in the third quarter of this calendar year.

“The development progress of 5G millimetre-wave testers and vehicle-to-vehicle testers remains on track,” it added.

Meanwhile, being acquainted with the global disruption such as weaker-than-expected global growth and further escalation of the Russia-Ukraine geopolitical conflicts, the group said it has taken continuous effort to sustain its operations and seize business opportunities.

“The group anticipates positive prospects for its business and the industries that it is participating in, namely semiconductor, life science and 5G technology as catalysts of growth for the coming years,” it said,

Shares in UWC rose 15 sen or 5.03% higher to RM3.13 on Tuesday (June 21), giving the group a market value of RM3.45 billion. Since the beginning of the year, the stock has fallen by 49.11%.