UWC 5292 UWC BERHAD's 1Q profit up 27% on stronger US dollar, capacity
KUALA LUMPUR (Dec 20): UWC Bhd's net profit grew 27% in the first quarter ended Oct 31, 2022 (1QFY2023), thanks to the appreciation of the US dollar against the ringgit and an expansion in capacity to cater for the rising order book from the semiconductor industry.
The group is involved in the provision of precision sheet metal fabrication, value-added assembly services and precision machined components, mainly for the semiconductor, life science, medical technology and heavy-duty industries.
Net profit rose to RM29.25 million for 1QFY2023, from RM23.04 million a year ago, while revenue grew 22% to RM92.12 million from RM75.25 million.
UWC said its higher profit margins were attributable to encroachment into the front-end supply chain and provision of higher value products to its clients.
The group also has a net cash position of RM65.3 million with a current ratio of 5.98 times.
UWC’s executive director and group chief executive officer Datuk Ng Chai Eng said the improved financial performance is backed by strong demand from clients in the semiconductor sector.
“With all the expansion plans we had, we are well poised to seize any opportunity which may arise from that field,” he said.
“Moving forward, our optimism of the global semiconductor industry’s outlook remains steadfast. The ongoing global economic and geopolitical developments may have initiated a snowballing effect where the global industry’s growth projection was trimmed.
“While growth may have been downgraded, the global market is still valued at over RM2.5 trillion in (calendar year) 2023. Huge opportunity to chip away part of the market to boost our market share,” he added.
UWC said order books remain strong with the addition of front-end semiconductor, life science and 5G test equipment.
“The group continues to grow existing partnerships, secure new projects and onboard new customers,” it said.
UWC also updated that it has commenced mass production for 5G millimetre-wave testers while the progress of vehicle-to-vehicle testers production set-up remains on track.
“In addition, the group is exploring to manufacture autonomous vehicle-related chip testers, and currently finalising the projects on electric vehicles battery cell emulators. The group also ventures into the front-end semiconductor manufacturing business and has already secured qualification for several components. More front-end manufacturing related projects are in the pipeline,” it said.
Shares of UWC eased six sen or 1.4% to RM4.19 at market close, giving the group a market capitalisation of RM4.61 billion.
http://www.theedgemarkets.com/article/uwcs-1q-profit-27-stronger-us-dollar-capacity
Singapore Investment Bloggers
-
-
-
-
-
-
Cory Diary : Portfolio Updates7 hours ago
-
-
6 property questions that have no answer10 hours ago
-
-
-
-
I am in debt13 hours ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Average Cost of COE1 day ago
-
-
-
-
Having A Ride Of Our Lives2 days ago
-
-
-
-
CPF interest rate to increase2 days ago
-
-
-
-
-
100k before 303 days ago
-
-
Real Estate Business Update!3 days ago
-
Monthly Summary of May 20233 days ago
-
-
May 2023 Portfolio Updates3 days ago
-
-
-
-
-
-
-
-
-
Investment Summary - May 20235 days ago
-
-
-
Portfolio (May 31st, 2023)6 days ago
-
-
Portfolio Summary for May 20236 days ago
-
-
Looking at Rental Yields6 days ago
-
-
-
-
-
Month of May 20236 days ago
-
-
-
I was right! Sort of....1 week ago
-
Updates for May 20231 week ago
-
-
-
-
-
-
Dirty, Dirty Coal1 week ago
-
-
-
-
-
-
-
-
Meta's new Twitter competitor2 weeks ago
-
Liquidity, Liquidity, Liquidity2 weeks ago
-
-
-
-
-
-
-
Success in life2 weeks ago
-
-
-
A New Light4 weeks ago
-
-
-
-
-
-
-
-
-
-
-
-
-
My retirement test drive: Q1, 20231 month ago
-
Snack Empire – Crunch Time1 month ago
-
-
-
-
-
-
1Q 2023 Investment Strategy Update2 months ago
-
-
-
Dividends Contributors – Top 102 months ago
-
-
Individual Income Tax Season 2023 Singapore2 months ago
-
-
-
How long is the RES course?2 months ago
-
-
-
I don’t know how My Portfolio is Performing3 months ago
-
-
-
-
-
How to become a real estate agent in Singapore3 months ago
-
-
New Launch Spotlight: The Botany at Dairy Farm4 months ago
-
A New Beginning – The Year of the Rabbit4 months ago
-
-
-
Demoralized5 months ago
-
2022 Thoughts, Hello 2023!5 months ago
-
-
Series of Defaults for Maple Finance5 months ago
-
Takeaways from “Sea Change”5 months ago
-
-
Greed is Coming Back6 months ago
-
-
-
-
Investing is Easy6 months ago
-
-
-
-
-
-
-
-
-
Portfolio Update - 2Q202211 months ago
-
-
What is Overemployment11 months ago
-
Terra Hill Condo (former Flynn Park)11 months ago
-
-
-
-
-
-
-
-
-
-
Recent Post
-
-
-
-
-
RCECAP 9296 RCE CAPITAL BERHAD 改变派息政策1 week ago
-
-
二小姐《无情的人儿》3 weeks ago
-
-
-
-
-
-
-
下跌股:康大工业(KOTRA,0002, 主板保健股) RM5.57支撑4 months ago
-
-
【马股】16%+高息股!0负债高现金!能入吗?6 months ago
-
8月棕油库存料升13.5% 种植公司次季净利看涨9 months ago
-
CHINWEL – Not too late to invest.11 months ago
-
恒大置地(TAMBUN,5191,主板产业股)迈向98仙/敏源1 year ago
-
-