Frontken’s Q4 profit nearly doubles

PETALING JAYA: Semiconductor firm Frontken Corp Bhd’s net profit almost doubled to RM18.68 million for the fourth quarter ended December 31, 2018 against RM9.83 million in the previous corresponding period, underpinned by improved performances by the group’s subsidiaries in Taiwan, Singapore and Malaysia a well as lower foreign exchange loss.

Its revenue was up 10.3% to RM88.67 million from RM80.38 million.

The group has proposed to declare a second interim dividend of 0.8 sen per share for the quarter under review.

Frontken’s full-year net profit surged 75% to RM52.26 million from RM29.86 million on the back of a 10.3% rise in revenue to RM327.22 million from RM296.58 million.

Amid uncertainties in the future US trade policy and economic performance in Europe and China, Frontken anticipates the overall business conditions in 2019 will continue to be challenging.

“To that end, we will continue to focus our attention on the quality of our services and cost management so as to maintain our competitiveness. We believe that our subsidiaries in Taiwan, Singapore, Malaysia and the Philippines will be able to continue with its momentum during the year and therefore we are cautiously optimistic that they will contribute positively to the group’s earnings in 2019” it said.

At the noon break, Frontken’s share price gained 2 sen or 2.3% to 89 sen with 14.35 million shares changing hands.

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