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Globetronics 1Q net profit up 38% to RM14.1 mil

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Globetronics 1Q net profit up 38% to RM14.1 mil Empty Globetronics 1Q net profit up 38% to RM14.1 mil

Post by Cals Tue 29 Apr 2014, 22:23

Globetronics 1Q net profit up 38% to RM14.1 mil
Business & Markets 2014
Written by Jonathan Gan of theedgemalaysia.com   
Tuesday, 29 April 2014 18:30

KUALA LUMPUR (Apr 29): Globetronics Technology Bhd net profit for the first financial quarter ended January 31, 2014, rose 38% to RM14.10 million from RM10.20 million in similar quarter a year ago.

Revenue for the quarter had risen to RM83.42 million from RM77.48 million from 1Q2013.

The company announced a final single-tier ordinary dividend of 4% per RM0.50 share and a single-tier special dividend of 4% per share.

The company had attributed its higher net profits to higher volume loadings among other factors.

“The higher net profit achieved was mainly due to higher volume loadings from most of the group’s customers, better economy of scale coupled with productivity improvement/ cost control programs carried out in the group,” it said in the announcement

On prospects, the company is focusing on moving up the value chain by riding on research & development initiatives in new products design and development. 
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