KUALA LUMPUR: JF Technology Bhd's (JTB) revenue for the second quarter (2Q) financial results ended December 31 2020 (FY21) expanded 54.2 per cent to RM9.4 million while net profit leaped 184 per cent to RM4.0 million.
The company remains in a solid balance sheet position with net cash per share of 36.6 sen as at end-December 2020, backed by net assets of 49.6 sen per share.
For the first half (1H) of FY21, net profit soared 148.9 per cent or RM4.8 million to RM8.0 million compared to RM3.2 million in the same quarter last year.
The group's 1H FY21 net profit has already equalled the full-year net profit of RM8.0 million in FY20.
Managing director Datuk Foong Wei Kuong said having started the financial year on a firm footing, the company had kept the ball rolling by delivering yet another solid set of results notwithstanding the Covid-19 pandemic.
"In fact, our first-half net profit has already equaled the full-year FY20 net profit and this is also the third consecutive record-breaking quarterly top and bottom-line performance the Group has delivered," he said in a statement today.
In addition to stronger sales, the robust growth was also attributed to lower operating cost to revenue ratio.
For the cumulative six-month period ended 31 December 2020, JTB's revenue increased 47.9 per cent or RM6.0 million to RM18.5 million from RM12.5 million in 1H FY20. This was largely driven by higher demand from its customers.
Revenue from Malaysia and China rose 53 per cent and 40.1 per cent to RM5.7 million and RM5.6 million respectively in 1H FY21.
Collectively, Malaysia and China contributed 61.6 per cent to total revenue with the remainder coming from the United States and the rest of the world.
"Our strategy to continue moving up the semiconductor value chain is coming along well. We are now able to provide total turnkey test contacting, interfacing and test program engineering services to semiconductor companies globally via our wholly-owned subsidiary, JF TestSense Sdn. Bhd," Foong said.
JTB is a manufacturer of high-performance test contacting solutions for global integrated circuit (IC).
Foong further said over in China, the setting up of a new manufacturing facility there was advancing nicely and on schedule.
"To recap, we are partnering with Hubble Technology Investment Co Ltd (HTI), a wholly-owned subsidiary of Huawei Investment & Holding Co Ltd to design, develop, manufacture and supply high performance test contactors in China.
"It is envisaged that the facility in China will greatly enhance our footprint and network in China. We target the plant to commence operations by the third quarter (3Q) of 2021, and this will add a new income stream to the group," he said.