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 JFTECH 0146 JF TECHNOLOGY BERHAD's FY22 revenue jumped 18.3pc to RM45.3mil driven by solid demand for high-performance test contactors

JF Technology has been granted four new patents, two of which are related to the invention of high frequency integrated circuit (IC) test contacting solutions while the remaining two pertain to the invention of IC test contacting solutions for automotive

KUALA LUMPUR: JF Technology Bhd's (JFT) net profit eased to RM3.5 million for the fourth quarter (Q4) 30 June 2022 (FY22) from RM3.4 million posted in the same quarter last year.

Revenue stood at RM12.0 million compared to RM10.2 million, an increase of 17.8 per cent.

For FY22, revenue rose by 18.3 per cent year-on-year (YoY) to RM45.3 million from RM38.3 million a year ago, driven by solid customer demand for high-performance test contactors.

Additionally, higher sales from the test engineering solutions business and its manufacturing facility in Kunshan, China, contributed to double-digit growth.

The company's gross profit margin remained healthy and high at 73 per cent for FY22.

FY22 net profit grew 13.8 per cent YoY to RM17.2 million from RM15.2 million in the previous year, stemming from the top-line improvement coupled with the reversal of prior tax provision.

Managing director Datuk Foong Wei Kuong said that moving into the new financial year (FY23), the company expects the market uncertainties to remain elevated with the demanding business operating conditions to persist.

He said the global semiconductor sales growth is expected to slow down

as a result of weaker sales of mobile phones and personal computers according to IT research firm Gartner.

"Against this backdrop, our proven highly sustainable and resilient business model with recurring and compounding sales of test consumables while serving many industries is crucial for the company to weather through the headwinds.

"At the same time, our test engineering solutions business and China facility would also enable us to offset the softer semiconductor demand outlook," he said.

For the company's test engineering solutions business, Foong said many projects are ongoing and managed to secure several new customers.

"The acquisition of assets and business of Ikeda Technology (M) Sdn Bhd (ITSB) was completed in June 2022, which we are also delighted to share that the Group has received new orders from customers."

"Meanwhile, the production utilisation at our facility in China continues to increase progressively.

"Overall, both the test engineering solutions business and our China plant are charting good progress and heading towards the right direction.

"By and large, we continue to be upbeat on the outlook of JF Tech as we will have more growth drivers coming onstream while being mindful of the challenges ahead," Foong said.

The board has declared a final dividend of 0.5 sen per share for Q4, bringing the total dividend for FY22 to RM9.3 million, representing a 53.7 per cent payout based on a net profit of RM17.2 million.

https://www.nst.com.my/business/2022/08/823568/jf-techs-fy22-revenue-jumped-183pc-rm453mil-driven-solid-demand-high

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