Frontken Corporation Bhd today announced key financial results showing a 29.7% growth year-on-year (YoY) for its profit net of tax for the quarter ended Sept 30, 2024, and an 8.1% growth YoY for its revenue in the same quarter, revealed the company in a filing with the Securities Commission (SC) Malaysia.
The quarterly net profit growth is higher by the gauge labelled as "profit attributable to ordinary equity holders of the parent", which amounted to RM35 million (RM35,323,000) in 2024, up from RM27 million (RM26,746,000) in 2023, growing 32.1% YoY.
In the third quarter of 2024, the semiconductor service provider received RM144 million (RM144,305,000) in revenue, and the profit net of tax amounted to RM39 million (RM38,880,000).
In the corresponding quarter in 2023, the company received a revenue amounted to RM133 million (RM133,523,000) and the profit net of tax came to RM30 million (RM29,972,000).
Meanwhile, the company's year-to-date (YTD) revenue for the first nine months of 2024 rose to RM420 million (RM419,747,000) from RM369 million (RM368,662,000) recorded in 2023, marking a 13.9% increase YoY.
The company's YTD profit net of tax in 2024 stood at RM109 million (RM108,786,000), up from RM91 million (RM91,086,000) YTD in 2023, increasing by 19.4% YoY.
