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GTRONIC (7022): GLOBETRONICS TECHNOLOGY BHD posts lower Q3 earnings

KUALA LUMPUR: Globetronics Technology Bhd's earnings declined in the third quarter due to "lower volume loadings from certain customers" and cautioned that the Covid-19 uncertainties may impact its financial results.

Net profit for the three-month ended Sept 30 fell 10% to RM16.3mil from RM18mil made a year ago.

Sales dropped 15% to RM55.6mil.

In June, Globetronics, which assembles sensors for a smartphone maker as well as auto chip components, voluntarily closed two of its factories for several days after several workers were tested positive for Covid-19.

"The group has taken strong initiatives to mitigate to exposure and disruption in the supply chain," the company said in a filing today.


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