Unisem Q1 Profits Drops 82% To RM13.4 Million Affected By Slowdown In Chip Demand

Semiconductor player, Unisem Berhad saw its profits drop for Q1 as a result of lower sales and an overall lull in the industry due to oversupply. The Group recorded revenue and net profit from continuing operations of RM354.047 million and RM9.898 million respectively for the current quarter ended 31 March 2023, representing a reduction of 16.6% and 80.7% respectively as compared to the revenue and net profit of RM424.445 million and RM51.180 million achieved in the same quarter a year ago.

The decrease in revenue and net profit was primarily attributable to lower sales volume in line with softer market conditions

The Group recorded significantly lower profit before taxation of RM13.411 million for the current quarter ended 31 March 2023 against the profit before taxation of RM74.959 million in the preceding quarter ended 31 December 2022, representing a reduction of 82.1%. The decrease in profit before taxation for the current quarter was primarily attributable to lower
sales volume.

Despite the soft demand for the products and services of the Group in the first financial quarter, the Directors expect the performance of the Group to improve in the next financial quarter

Subsequently, the board approved a first interim dividend of 2.0 sen per share tax-exempt for the current financial year ending 31 December 2023. The dividend will be paid on 26 May 2023 (Nil for the financial quarter ended 31 March 2022).

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