Kobay Technology Berhad, the Main Market-listed engineering solutions provider, has today announced its second quarter (“2QFY22”) and six months financial results for the period ended 31 December 2021 (“1HFY22”).
Kobay’s revenue rose 159.3% year-on-year (YoY) to RM92.8 million in 2QFY22 compared to RM35.8 million in 2QFY21. Similarly, quarterly profit after tax and non-controlling interest (net profit) jumped 143.9% YoY to a record high of RM14.5 million from RM6.0 million a year earlier.
The quantum leap growth was mainly attributed to a strong showing by its manufacturing business with robust orders from the semiconductor and electrical and electronics (“E&E”) industries, which also included a new High-Level Assembly product.
The segment’s revenue rose twofold to RM65.7 million in 2QFY22 while profit before tax (“PBT”) tripled to RM18.9 million.
At the same time, the property development segment reported a PBT of RM1.2 million on the back of RM5.6 million revenue. Other Operating Segments, which encompass the new pharmaceutical and healthcare business, contributed revenue and PBT of RM21.6 million and RM2.8 million respectively.
For 1HFY22, the Group’s revenue came in at RM159.0 million, a 112.2% YoY increase from 1HFY21. In tandem with the top-line growth, net profit for the first half climbed 116.7% YoY to RM24.2 million.
“The elevated profit for the manufacturing division chiefly stemmed from growth in orders from our semiconductor and E&E customers. Other than that, we also benefitted from our new venture into the high-level assembly of advanced data server
machines. Order visibility for these servers remains robust, and we are working hard to ramp up our production in the coming months to meet the rising demand. Beyond that, we are also expecting to add another income stream in the form of aluminium
extrusion for solar panel frames upon the commissioning of our new plant, which is slated in 3QFY22.” CEO and Managing Director of Kobay, Dato’ Seri Koay Hean Eng said.
“The future of the Group remains promising premised on the multiple growth engines mentioned earlier, some of which have already begun to come into play. Coupled with the bright global outlook for the semiconductor and E&E industries, we expect to see many more breakthrough performances for Kobay over the foreseeable future,” Dato’ Seri Koay added.