Inari Amerton Berhad recorded revenue of RM360.3 million for the current quarter, representing an increase of 5.1% compared to the same quarter in the previous year of RM342.9 million. Growth in revenue was recorded in all business segments.
The Group achieved a profit after tax of RM90.3 million for the current quarter, an increase of 10.2% from RM81.9 million recorded in the corresponding quarter of the preceding year was mainly derived from higher revenue growth. Comparison with the immediate preceding quarter
However, the group’s revenue was lowered by 14.3% to RM360.3 million in the current quarter from RM420.3 million in the immediate preceding quarter. The decrease was mainly due to lower loading volume in RF business segments due to the seasonal cycle and raw material supply constraints in other business segments.
Profit after tax was RM90.3 million for the current quarter, which also saw a decrease of 16.4% from RM108.1 million recorded in the immediate preceding quarter. The lower profit after tax was consistent with a decrease in revenue and deferred tax asset. Financial year to date against preceding year corresponding financial period
For the nine months period ended 31 March 2022, the Group recorded revenue of RM1,211.7 million, representing a 13.5% increase from RM1,067.4 million in the preceding year’s corresponding period. The Group’s profit after tax increased by 26.1% to RM305.2 million for the period ended 31 March 2022 from RM242.0 million in the preceding year’s corresponding period. The increase was mainly contributed by higher revenue, additional interest income from fund placement, and favourable forex exchange rates
The International Monetary Fund (IMF) has in its April 2022 World Economic Outlook Update reported that the global economic prospects have worsened significantly since the last forecast in January 2022 when the global recovery was projected to strengthen from the second quarter of this year after a short-lived impact of the Omicron variant. Since then, the outlook has deteriorated, largely due to the war in Ukraine.
The war will severely set back the global recovery, slowing growth and increasing inflation even further. Global growth is projected to decline from an estimated 6.1% in 2021 to 3.6% in 2022 and 2023 – 0.8 and 0.2 percentage points lower than in the January 2022 forecast. The downgrade largely reflects the war’s direct impact on Russia and Ukraine, and the resulting global spillover.
Notwithstanding the foregoing, Gartner published on 26 April 2022 that global semiconductor revenue is projected to total USD 676 billion in 2022, an increase of 13.6% from 2021. Semiconductor revenue for smartphones is forecast to increase 15.2% in 2022, as 5G smartphone unit production is expected to grow by 45.3%. Aggressive migration from 4G to 5G from major smartphone chipset vendors has temporarily led to a shortage in 4G system on-chip integrated baseband ICs which began in the second half of 2021.
In World Semiconductor Trade Statistics (WSTS)’s 18 March 2022 market forecasts, the worldwide semiconductor market is expected to increase 10.4% in 2022 which corresponds to sales of USD 613.5 billion. The growth is driven by the forecasted double-digit growth rate in Sensors, Logic, and Analog products categories, and all other major product categories including Micro, Discrete Semiconductors, and Optoelectronics are also expected to show positive growth rates.
The Group remains cautiously positive about its near-term prospects for the rest of 2022 along lines of IMF and industry forecasts. However, the outlook is heavily clouded by the Covid lockdown situation in China and the prospects of the conflict in Ukraine expanding beyond its borders affecting both demand and further disruption of supply chains.
