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NewsGlobetronics 2Q net profit rises 22% on year, revenue higher at RM91m
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Globetronics 2Q net profit rises 22% on year, revenue higher at RM91m
by Cals Wed 06 Aug 2014, 01:10
| Globetronics 2Q net profit rises 22% on year, revenue higher at RM91m |
| Business & Markets 2014 |
| Written by Chong Jin Hun of theedgemalaysia.com |
| Tuesday, 05 August 2014 17:32 KUALA LUMPUR (Aug 5): Semiconductor manufacturer Globetronics Technology Bhd's net profit rose 22% to RM17.3 million in the second quarter ended June 30, 2014 from RM14.14 million a year earlier. Revenue climbed to RM90.62 million from RM85.76 million. Globetronics told the stock exchange today cumulative first-half (1HFY14) net profit increased to RM31.4 million from RM24.33 million a year earlier. Revenue was higher at RM174.04 million. "The higher (1HFY14) 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 programme carried out in the group. "Moving forward, the group will continue to focus on escalating up the value chain and riding on the R&D initiatives in new products’ design and development. The group will also continue to step up efforts in improving the efficiency and cost reduction measures in its group’s operations to achieve the necessary competitive edge in the market," Globetronics said. |
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