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New businesses to give more to Inari

KUALA LUMPUR: With its core business of radio frequency running smoothly, Inari Amertron Bhd's new businesses are also expected to contribute more to its coffers, Affin Hwang Capital said.

Affin Hwang said the new businesses included the power module assembly product for a multinational corporation (MNC).

The firm said this was in the final stages of qualification and could open new growth avenues and opportunities.

Affin Hwang said in the first quarter ended September 2021, Inari's net profit jumped 33 per cent year-on-year (Y-o-Y) as its assembly capacity reflected the full operation of its 22 system-in-package (SiP) lines as opposed to only eight lines a year ago.

"The increase in RF content growth as well as volume growth of an end-customer's smartphones have underpinned the strong set of results.

"While an improved operating leverage may have boosted the earnings margin, we would also attribute it to better contribution from the additional value added services, which is likely to have negated any increase in costs due to the ongoing supply chain issues.

"Some of the new value added services include the electromagnetic interference coating process which further enhances the performance of its customer's filters," it said in a report today.

Affin Hwang has maintained its "Buy" call on Inari, with a higher target price of RM4.29 from RM4.17 previously.

https://www.nst.com.my/business/2021/11/745487/new-businesses-give-more-inari

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