KUALA LUMPUR: Foundpac Group Bhd
is seeing softening in demand with some customers deferring their orders as global semiconductor sales moving on a downward trend since August 2022.
The precision engineering parts maker said the escalation of the direct costs is also taking a hit on margins.
“In line with the unfavourable macro-economic factors underpinning the industry, the group expects to end the current financial year with an average performance.
“In the meantime, the group continues to focus on strengthening its business operations and fundamentals,” Foundpac said in a filing with Bursa Malaysia.
In the third quarter ended March 31, Foundpac’s net profit fell 25% to RM2.01mil from RM2.7mil posted in the same quarter last year.
Its revenue fell 9.6% to RM15.8mil from RM17.4mil last year while earnings per share fell to 0.37 sen versus 0.50 sen a year prior.
For the first nine months to March 31, Foundpac posted a net profit of RM7.25mil, down 11.5% from RM8.2mil last year. Revenue, however, rose 8.7% to RM52.5mil against RM48.3mil a year ago.
