KUALA LUMPUR: Malaysian Pacific Industries Bhd (MPI), a semiconductor assembly and testing company, reported its fifth straight quarterly earnings growth amid strong global demand for chips.

       Net profit in the last three-month ended June 30 climbed to RM75.1mil from RM49mil a year ago.

       MPI made a net profit of RM74.4 in the March quarter.

       For the full year (FY21), the company made RM272mil, or RM1.37 a share. It has declared a dividend of 30 sen a share.

       The Group’s revenue for FY21 was RM1.99bil, 27% higher as compared with revenue of RM1.5bil a year ago.

       "Revenue for the Asia, USA and Europe segments were higher by 25%, 32% and 31% respectively against the preceding year’s corresponding period," it said.

       The improved revenue, coupled with effective cost management, boosted its profits in FY21.

       "The semiconductor industry continues to show resilience and growth in spite of the challenging operating environment due to the Covid-19 pandemic and the prospect of an uneven recovery of the global economy," MPI said.

       "Barring any unforeseen circumstances, the Board expects the Group’s performance for the financial year ending June 30, 2022 (FY22) to be satisfactory," it added.