KUALA LUMPUR (Nov 17): Electronic manufacturer Formosa Prosonic Industries Bhd saw its third quarter net profit rise 77.18% to RM44.24 million from RM24.97 million a year earlier, supported by higher sales and gain on foreign exchange. Earnings per share for the quarter ended Sept 30, 2022, increased to 17.32 sen from RM10.09 sen previously, the group’s bourse filing showed. For the nine months ended Sept 30, 2022, net profit rose 42.46% to RM97.84 million from RM68.68 million a year earlier, as revenue increased to RM803.29 million from RM678.34 million. Formosa Prosonic said strong headwinds continued to arise from rising inflation and interest rates, and downward revision to the demand outlook. Formosa Prosoic shares closed unchanged at RM3.18 on Thursday (Nov 17), valuing the group at RM813 million.

Source: The Edge Markets November 18, 2022 03:08 UTC