Chengdu Plant Lockdown Hampers Unisem Profits

Unisem recorded revenue and net profit from continuing operations of RM439.686 million and RM56.311 million respectively for the current quarter ended 30 September 2022, these represent an increase of 20% and 39.3% as compared to the same quarter a year ago.

For the nine months ended, the Group recorded revenue and net profit from continuing operations of RM1.328 billion and RM177.888 million, representing an improvement of 16.3% and 26.2% respectively against the corresponding 9- month period ended 30 September 2021. The improvement in revenue and net profit was attributable to better average selling prices coupled with the appreciation of USD/MYR and USD/RMB exchange rates.

Overall the group recorded a lower profit before taxation of RM64.277 million for the current quarter against the profit before taxation of RM81.726 million in the preceding quarter ended 30 June 2022, representing a decrease of 21.4%. The decrease in profit before taxation for the current quarter was primarily attributable to lower production volume at the Chengdu plant which was affected by the power restriction in Sichuan Province and Covid-19 lockdown, during the quarter under review.

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