GTRONIC (7022): GLOBETRONICS TECHNOLOGY BHD posts higher Q1 net profit
KUALA LUMPUR: Globetronics Technology Bhd, an integrated circuit maker, reported higher earnings in the first quarter on improved sales and better margins.
The group, however, warned of more volatile quarters ahead.
“There have been media and analyst reports on one of our customers recently about competition in its segment, of which has not been confirmed by them, ” Globetronics said in a filing with Bursa Malaysia.
“Based on our customers’ recent forecast and guidance, the group may expect volatile and fluctuating loadings for certain products in the coming financial quarters, ” it added.
Globetronics posted a net profit of RM12.5mil in the three-month ended March 31, compared with RM10.89mil which the group made a year ago.