Cape EMS Berhad (formerly known as Cape EMS Manufacturing (M) Berhad) (Cape EMS) which is principally an investment holding company involved in the provision of electronics manufacturing services (“EMS”), reported a 24.1% increase in profit before tax (“PBT”) from RM8.0 million in the fourth quarter ended 31 December (“Q4 FYE”) 2021 to RM9.9 million in Q4 FYE 2022.
This was on the back of a 17.3% increase in revenue from RM100.7 million in Q4 FYE 2021 to RM118.2 million in Q4 FYE 2022. The Q4 FYE 2022 PBT margin improved to 8.4% from 7.9% in Q4 FYE 2021.
The company, in a note today (March 7), said the improved financial performance was driven by higher sales from the wireless communication equipment and electronic cigarettes, as well as favourable product mix arising from higher sales of higher margin products.
For the financial year ended 31 December (“FYE”) 2022, the Company reported a 61.1% surge, year on year, in profit before tax from RM25.4 million in FYE 2021 to RM40.8 million in FYE 2022. This was on the back of a 27.2% revenue growth from RM344.3 million in FYE 2021 to RM438.0 million in FYE 2022. PBT margin increased to 9.3% in FYE 2022 from 7.4% in FYE 2021.
Cape EMS Non-Independent Managing Director/Group Chief Executive Officer Christina Tee Kim Chin said, “We are delighted to announce our first set of quarterly results for the fourth quarter of our financial year ended 31 December 2022 ahead of our listing on 10 March 2023. We attribute our strong performance in this financial period to our team effort and appropriate business strategies implemented.
At this juncture, we are still experiencing strong order flow from our customers and we will continue to monitor the latest EMS market developments while increasing the Company’s efficiency and competitiveness to remain relevant in the market in the long run.
Nevertheless, we remain optimistic of our business with the global macroeconomics headwinds affecting the global market such as interest rate hike, persistent US-China trade tension, global semiconductors component shortages, just to name a few.”
