KUALA LUMPUR: Globetronics Technology Bhd
remains cautiously optimistic about its prospects for the remainder of 2024.
“The group’s strong cash position and prudent financial management are expected to provide a solid foundation to withstand ongoing industry challenges while exploring new growth opportunities.
“The group is poised to capitalise on emerging trends within the semiconductor industry, supported by its strategic investments in technology and human capital,” Globetronics said in a statement.
In the second quarter ended June 30, the group’s net profit tumbled 39.6% year-on-year to RM4.3mil, or earnings per share of 0.63 sen from RM7.1mil, or 1.06 sen previously.
Revenue fell 11.9% to RM27.7mil against RM31.5mil a year ago.
For the first half, it posted a net profit of RM10mil, down 3.7% from RM10.4mil while revenue fell 10.8% to RM57.7mil against RM64.6mil last year.
“Despite the challenges, we are focused on driving long-term growth through strategic capital investments and operational excellence. Our efforts this year include pitching new products and conducting qualification processes, with an aim to further enhance the group's financial performance in the coming year.
“Our priority remains delivering value to our shareholders while actively engaging with potential customers to secure new business opportunities,” Globetronics said.
