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News - Detailed News Story

Micro-Mechanics

Stock Chart
Last Done 2.280
Change +0.030 (+1.33%)
Volume 16.3
Range 2.250 - 2.280

Micro-Mechanics' Q3 net profit jumps 48.1% despite Covid-19 outbreak

27 Apr 2020 09:00

By Ng Ren Jye

rjng@sph.com.sg

MICRO-MECHANICS on Friday posted a 48.1 per cent rise in net profit to S$3.9 million for the third quarter ended March 31, 2020, from S$2.6 million a year ago.

The company, which makes high-precision tools and parts for the semiconductor industry, said revenue for the quarter increased 12.9 per cent to S$16.2 million, from S$14.4 million in the year-ago period.

The group reported a 14 per cent sales increase in its largest market, China, despite the temporary closure of the group's Suzhou factory between Feb 3 and Feb 12 as part of the Chinese government's directives to limit the spread of Covid-19.


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Source: Business Times
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