KUALA LUMPUR (Feb 10): JF Technology Bhd s net profit for the second quarter ended Dec 31, 2020 (2QFY21) surged 184% year-on-year to RM4.01 million from RM1.41 million, boosted by higher revenue due to sustained robust demand from customers despite the Covid-19 pandemic.
A bourse filing yesterday showed that its revenue climbed 54.19% to RM9.36 million from RM6.07 million previously, on stronger sales and lower operating cost to revenue ratio.
Earnings per share rose to 1.77 sen in 2QFY21 from 0.67 sen a year earlier.
The group also declared a single-tier interim dividend of 0.5 sen to be paid on March 11.
For the cumulative six-month period ended Dec 31, its net profit soared 148.91% to RM8.02 million from RM3.22 million a year ago. Meanwhile, revenue increased 47.9% to RM18.51 million from RM12.51 million previously, driven by higher demand from its customers.
TECHNOLOGY and semiconductor-related stocks on Bursa Malaysia have performed quite well this year, in tandem with the rise of tech stocks around the world, driven by robust demand amid the Covid-19 pandemic.
The virus outbreak and accompanying lockdowns have accelerated digital adoption worldwide. It has changed the way we live, work, study, communicate, shop and consume, among others.
On the corporate front, tech-related companies including those in the semiconductor, digital, e-payment, e-commerce and online learning space have been greatly impacted. For many of these players, fortunately, the impact has been mostly positive due to an unexpected surge in demand as well as a sharp increase in investments in computing and mobile and IT infrastructure.