PETALING JAYA: UWC Bhd’s net profit for the third quarter ended April 30, 2022 (3Q22) increased 24.62% year-on-year (y-o-y) to RM28.71mil due to the strong orders and demand from the semiconductor industry.

       The group’s focus in delivering higher value products to its customers saw its revenue increased 21.66% y-o-y to RM87.32mil.

       For the nine-month (9M) period, its net profit grew 6.73% to RM76.83mil compared with RM71.99mil in 9M21 while revenue was up 9.68% to RM242.49mil for RM221.08mil in 9MFY21.

       It remained positive on its prospects as according to the latest World Semiconductor Trade Statistics, the worldwide semiconductor market is expected to grow by 10.4% in 2022.