KUALA LUMPUR: Nationgate Holdings Bhd
, en route for a listing on the ACE Market of Bursa Malaysia on Jan 12, posted a net profit of RM30.1mil for the third quarter ended Sept 30 (3Q22).
The electronics manufacturing services (EMS) provider’s revenue for the quarter stood at RM305.2mil while earnings per share (EPS) at 1.83 sen.
In the first nine months to Sept 30 (9M), NationGate posted a net profit of RM63.1mil or EPS of 3.85 sen on revenue of RM731.2mil.
No comparative figures were available as it was the first interim financial report released by the company in relation to its earnings, in compliance with the listing requirements.
In a statement, NationGate said its 9MFY22 profit surpassed the previous record high earnings achieved in FY21 of RM59.5mil.
Managing director Ooi Eng Leong said NationGate is expected to chart lower revenue over the next two quarters (4Q22 and 1Q23) due to cyclicality in the EMS industry.
“However, the company is still on track to achieve its internal revenue and profits targets given the sustained growth in its networking, telecommunications, industrial products, and automotive segments for FY22 and FY23,” he said.
As at Nov 14, 2022 NationGate has unbilled purchase orders of RM369.5mil which are to be billed upon delivery progressively over the next 12 months.
NationGate plans to utilise RM5.9mil of the proceeds from its initial public offering to expand its EMS service offerings and surface mount technology (SMT) assembly capacity to cope with the rising demand from its existing multinational customers and new customers.
As at Nov 14, 2022, NationGate has 31 SMT assembly lines and 131 units of SMT machinery with a monthly production capacity for SMT services of up to 1.3 billion mounting points per month.
Upon completion of the expansion of its SMT assembly lines within 36 months, the company’s monthly production capacity is expected to increase by up to 38.4 million mounting points to a maximum of 1.3 billion mounting points per month.
