PENANG: Automated manufacturing solutions provider, ECA Integrated Solution Berhad, announced its second quarter financial results for the period ended April 30, 2023 (2QFY23). No comparative figures for the preceding financial year’s corresponding quarter are presented as this is the fourth condensed interim financial report announced by ECA.
For the first half of FY2023 (1HFY23), ECA recorded a net profit of RM7.7 million on the back of RM20.0 million in revenue, translating into net profit margin of 38.3%. It is noteworthy to mention that the 1HFY23 top- and bottom-line figures already account for 72.6% and 98.2% of full year FY2022’s reported performance.
For the quarter under review, ECA turned in revenue of RM9.3 million, against RM10.6 million in the immediate preceding quarter, while net profit stood at RM3.5 million as compared to RM4.1 million earlier. The softer quarter-on-quarter (QoQ) performance was mainly due to the slight decrease in deliveries for integrated production systems(IPS) in 2QFY2023.
ECA executive Director-cum-chief operating officer Chua Lye Hock said, “We are satisfied with the Group’s performance thus far, taking into
consideration the challenging operating environment. In fact, we have managed to grow our business. This is evident in our performance where 1HFY23 revenue and net profit account for 72.6% and 98.2% respectively, of our full year FY2022 results. As we move into 2HFY2023, the team is working very hard to sustain our performance, notwithstanding the macroeconomic headwinds and uncertainties, particularly in the
semiconductor industry.”
“Fortunately for us, the prospect for automation solutions remains positive and we are encouraged by the growing number of customer inquiries we received, pointing to the healthy demand for our customisation solutions. We expect activities to pick up in 2HFY2023 with more deliveries of IPS on the card. Against this backdrop, we maintain a cautiously optimistic outlook for FY2023. The Group remained focused on the
execution of our long-term growth strategies to position ourselves for a strong recovery in the semiconductor sector in the near future,” Chua added.
