Globetronics expects challenges

PETALING JAYA: Globetronics Technology Bhd expects the semiconductor industry to continue experiencing challenging macroeconomic and geopolitical issues, resulting in unpredictable market conditions.

In a filing with Bursa Malaysia, the group said net profit in the fourth quarter ended Dec 31, 2023 dropped to RM6.51mil from RM12.05mil in the previous corresponding period, while revenue dipped to RM32.55mil from RM43.05mil a year earlier.

Basic earnings per share stood at 0.97 sen compared with 1.80 sen previously.