KUALA LUMPUR: Frontken Corporation Bhd earnings soared 235% to RM5.26mil in third quarter ended Sept 30, 2014 from RM1.56mil a year ago, boosted by the ramp-up in its semiconductor business in Taiwan and Malaysia.
It announced on Monday its revenue rose 65.3% to RM83.55mil from RM50.54mil. Earnings per share were 0.52 sen compared with 0.16 sen.
For the nine months, Frontken’s earnings jumped to RM11.62mil from only RM127,000 in the previous corresponding period. Its revenue increased 50.3% to RM204.79mil from RM136.21mil.
Frontken said the improvement in the third quarter and nine months was mainly attributable to the better business performance by the group’s subsidiaries in Taiwan and Malaysia.
“There was a ramp up in the semi-conductor business in Taiwan due to improved outlook in this sector. In the case of Malaysia, the better performance was mainly due to the recognition of progressive revenue from the ATB project in Tanjung Bin coupled with higher revenue from our oil and gas division,” it said.
Frontken said the profit before tax for the third quarter and nine months ended Sept 30, 2014 increased by about RM6.5mil and RM14.8mil respectively as a result of improved business.
It also said the disposal of investment in an associate company also significantly reduced the group share of losses compared to a year ago. - The Star
