KUALA LUMPUR: Inari Amertron Bhd
says it is cautious on its recurring radio frequency and optoelectronics business given the depressed macroeconomic environment and slowdown in the overall semiconductor market.
It said its outlook was in line with the projections of World Semiconductor Trade Statistics (WSTS), which forecasts a 4.1% decline in the semiconductor market in 2023, and Gartner, which expects a 4.4% drop in smartphone sales.
It added that the ongoing volatility in the US dollar exchange rate may add headwinds to the group's performance in FY23.
"The group continues to work on new opportunities coming onshore into Malaysia’s OSAT ecosystem at the same time bringing up our new China JV site in Yiwu to begin manufacturing operations during the second half of
FY24," it said in a filing with Bursa Malaysia.
In the second quarter of its financial year, the group recorded a net profit of RM93.61mil, down from RM107.3mil in the previous corresponding quarter.
Its earnings per share fell to 2.51 sen from 2.91 sen in the comparative quarter.
It said revenue was RM402.46mil, down from RM420.26mil in the same quarter last year, due to lower loading volume in the optoelectronics business segment.
For the period, the directors proposed a second interim dividend of 2.2 sen per share, with entitlement and payment dates on March 16 and April 6, 2023, respectively.
Over the first six months of the financial year, the group's net profit was RM199.86mil as compared with RM214.23mil while revenue dropped to RM779.46mil from RM851.38mil.
