KUALA LUMPUR (July 24): Globetronics Technology Bhd net profit for the second quarter ended June 30, 2012 rose 29.29% year-on -year to RM9.71 million from RM7.51 million due mainly to higher volume loadings from most of the its customers in the quarter, better product mix and economy of scale.
The company said on Tuesday that its revenue for the quarter was RM69.54 million compared to RM69.28 million.
Earnings per share was 3.62 sen compared to 2.83 sen a year earlier, while net assets per share was 96 sen.
On its prospects, Globetronics said that moving forward, it would continue to focus on escalating up the value chain and riding on the R&D initiatives in new products’ design and development.
“The group will also continue to step up efforts in improving the efficiency and cost reduction measures in its operations to achieve the necessary competitive edge in the market.
“Premised on the above and barring any unforeseen circumstances, the group is optimistic of achieving better performance and growth in financial year 2012,” it said.