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BUSINESS

Inari Amertron net profit for FY2022 rises to RM390.92 mln

19/08/2022 07:12 PM

KUALA LUMPUR, Aug 19 (Bernama) -- Inari Amertron Bhd net profit for the financial year ended June 30, 2022 rose to RM390.92 million from RM330.47 million a year ago.

Revenue for the year under review improved 8.3 per cent to RM1.55 billion from RM1.43 billion a year before, with the radio frequency (RF) business segment continuing to be the key contributor to the revenue growth.

For the fourth quarter ended June 30, 2022, its net profit slipped 3.1 per cent to RM86.22 million versus RM88.36 million, while revenue fell seven per cent to RM336.18 million from RM361.32 million.

“The lower net profit was due to lower revenue growth and higher provision of deferred taxation and the lower revenue for the current quarter was mainly due to lower loading volume in optoelectronics and generic business segments due to raw material supply constraints,” it said in a filing with Bursa Malaysia today.

On its outlook, the group said given the mixed news for its product segments, the group remains cautiously positive on the prospects for the financial year 2023 (FY2023).

“The strong US dollar has been favourable to the group in the current quarter and its strength is expected to remain for the first half of FY2023 on indications of rising interest rates in the United States.

-- BERNAMA

 

 


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