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News - Detailed News Story

Micro-Mechanics Q2 net profit down 20%

29 Jan 2019 09:00

By Janice Heng

AMID moderation in the global semiconductor industry, Micro-Mechanics (Holdings) posted a 20 per cent fall in net profit to S$3.1 million in the second quarter ended Dec 31, 2018, down from S$3.9 million in the year-ago period.

This was on the back of a 3.1 per cent fall in revenue to S$15.2 million, down from S$15.6 million.

Earnings per share for the quarter were 2.25 Singapore cents, compared to 2.81 Singapore cents in the year-ago period. Micro-Mechanics will pay an interim dividend of four Singapore cents per share on Feb 18, the same amount as was paid out in the year-ago period.

The latest results brought first-half net profit to S$7.6 million, down 15.9 per cent from S$9.1 million in the first half of the preceding financial year. First-half revenue was S$32 million, down 3.9 per cent from the record S$33.3 million in the year-ago period.

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Source: Business Times

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