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.
https://www.thestar.com.my/business/business-news/2021/10/26/globetronics-posts-lower-q3-earnings
