Frontken’s Q2 profit more than doubles

PETALING JAYA: Frontken Corp Bhd’s net profit more than doubled to RM12.08 million for the second quarter ended June 30, 2018 against RM5.82 million in the same quarter a year ago, underpinned by improved performance by its subsidiaries in Taiwan, Singapore, Malaysia and the Philippines.

Its revenue also expanded 16% to RM81.78 million from RM70.53 million.

The engineering services provider said in a filing with the stock exchange that its performance was consistent with the growth in the global semiconductor market.

However, Frontken anticipates that the overall business conditions this year will continue to be challenging amid uncertainties such as the future trade policy of the US as a possible trade war may impact the outlook of the global economy and the future earnings of the semiconductor industry should it intensify.

The group is cautiously optimistic that its performance for the rest of the year will be satisfactory.

“The group will also continue to be vigilant in its cost management and continually explore ways to improve on its efficiency. The group’s priority will be to continue to focus its attention on the quality of its services and efficiencies so as to maintain its competitiveness.”

Frontken’s first-half net profit jumped 75.3% to RM18.39 million from RM10.49 million, while revenue rose 11% to RM152.7 million from RM137.59 million.