JF TECH POSTS ITS BEST ANNUAL REVENUE AND NET PROFIT IN THE GROUP'S HISTORY

Turnover and net profit hit RM27 million and RM8 million respectively for the first time

KOTA DAMANSARA, Aug 25 (Bernama) -- Leading innovator and manufacturer of high performance test contacting solutions for global integrated circuit (“IC”) makers, JF Technology Berhad (“JF Tech” or the “Group”) (“杰冯科技”), announced its fourth quarter (“4QFY20”) and full year (“FY20”) financial results today for the period ended 30 June 2020.  

For the full year, JF Tech posted its best-ever turnover of RM26.8 million in FY20. This represented an increase of RM3.8 million or 16.5% year-on-year (“YoY”) from RM23.0 million in FY19. The improvement was mainly driven by the robust demand from its customers. 

More remarkably, the Group’s record revenue performance also translated into a stellar profit after tax and non-controlling interest (“PATNCI” or “net profit”) of RM8.0 million in FY20, surging RM5.0 million or 165.8% YoY from RM3.0 million in FY19. The Group’s net profit broke the RM8 million-mark for the first time. The larger-than-proportionate growth stemmed from lower operating expenses, absence of legal fees incurred in the preceding year, as well as gain in foreign exchange due to the strengthening of US dollar (“USD”) against Ringgit Malaysia (“RM”).

For the quarter under review, it was also a milestone performance with the Group revenue registering a high of RM8.1 million, an increase of RM3.0 million or 60.0% YoY from RM5.1 million in the preceding year corresponding quarter (“4QFY19”). The jump was largely attributed to stronger demand from its customers overseas. GP margin leaped to 74.8% in 4QFY20 against 64.5% a year ago. In turn, the Group’s earnings before interest tax depreciation and amortization (“EBITDA”), has correspondingly, soared 1,107% YoY to RM3.3 million in 4QFY20 from a loss of RM0.3 million in the previous year corresponding quarter.

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