Betamek executive director Muhammad Fauzi Abd Ghani
KUALA LUMPUR: Betamek Bhd is optimistic about its prospects for its current financial year, which it said is supported by a robust domestic economy and sustained demand in the automotive market.
In a statement, the electronics manufacturing services (EMS) provider said it is ready to support the increased demand for electronic components in electric vehicles (EV) as the market share in Malaysia continues to grow.
In the first financial quarter ended June 30, 2024, Betamek posted a net profit of RM4.88mil, as compared to a net profit of RM4.79mil, on revenue of RM49.97mil against RM43.45mil in the year-ago quarter.
The earnings per share rose to 1.08 sen from 1.06 sen in the comparative quarter.
The board of directors declared an interim dividend of one sen per share, payable on Aug 23, 2024.
"The strategic initiatives we have implemented are beginning to yield positive results, as evidenced by our improved margins and solid revenue growth," said executive director Muhammad Fauzi Abd Ghani.