Frontken’s 2Q net profit rises to RM33mil

PETALING JAYA: There are brighter prospects for Frontken Corp Bhd as the group registered improved utilization of its second facility in Taiwan in the second quarter ended June 30, 2024 (2Q24) amid growing customer demand.

The group said it is “cautiously optimistic” that the trend will continue to grow over the remainder of the year.

During the quarter under review, Frontken recorded a net profit of RM33.33mil, which was higher than RM31.91mil registered during the same corresponding quarter last year.

The group’s revenue rose to RM134.93mil as compared to RM121.15mil, while earnings per share stood at 2.12 sen against 2.03 sen previously.

It said its Taiwanese arm made increased contributions as volume in the semiconductor space picked up due to higher demand and customer orders.