Two-fold jump in QES earnings


QES managing director and president Chew Ne Weng (pic) said the semiconductor industry’s outlook continued to look favourable as demand for chips across all end segments remains robust.

PETALING JAYA: QES Group Bhd’s net profit jumped two-fold to RM3.77mil for the third quarter ended Sept 30, 2021 (Q3’21) from RM1.63mil in Q3’20 on higher revenue and better margin.

During the quarter in review, the company’s revenue rose 43.7% to RM51.67mil in Q3’21 from RM35.97mil previously on higher sales.

QES managing director and president Chew Ne Weng (pic) said the semiconductor industry’s outlook continued to look favourable as demand for chips across all end segments remains robust.

QES Group productionQES Group production

“As such, we expect QES to benefit from this positive outlook. The board is cautiously optimistic in meeting its double-digit growth target as compared to 2020,” he said.Year-to-date,

QES’ net profit more than doubled to RM14.57mil from RM6.69mil in the nine months to September 2020, while revenue grew 38.4% to RM158.59mil from RM114.63mil previously.

Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

QES Group , earnings , Chew Ne Weng ,

   

Next In Business News

ABM welcomes GX Bank, Boost Bank as new members
Khee San to raise up to RM96.1mil from rights issue
Ringgit ends firmer against greenback amid heightened uncertainty as US election looms
Elridge Energy inks 15-year biomass fuel contract with Japanese trading firm
Bintai Kinden unit bags RM61.22mil construction job in Melaka
MCE, Chuhang ink MoU to develop automated driving radar
Bursa Malaysia ends higher lifted by plantation, construction stocks
Revenue to dispose of Innov8tif stake for RM40mil
MN Holdings' new job wins bring orderbook to all-time high of RM625.8mil
Bina Puri unit secures RM113.29mil contract for Sarawak water supply project

Others Also Read