Globetronics Q3 earnings up 16.5%, declares 11 sen dividend

KUALA LUMPUR: Globetronics Technology Bhd’s earnings in the third quarter ended Sept 30, 2014 rose 16.5% to RM17.7mil from RM15.2mil on the back of improved revenue, which rose 14.3% to RM91mil from RM79.7mil.

Earnings per share rose to 6.31 sen from 5.51 sen, and the company declared a dividend of 11 sen, totalling RM30.91mil, to be paid on Nov 5, 2014.

The electronics manufacturer said its Malaysian and Singaporean segments recorded healthy sales and net profit improvement. It said it had also benefited from better economy of scale and cost control.

For the nine months so far of the financial year, earnings improved 24.2% to RM49.1mil from RM39.5mil with revenue up 9.1% to RM265.1mil from RM242.9mil.

Globetronics said it would focus on climbing up the value chain and riding on R&D initiatives in new product design and development. It also said it would continue to step up efforts in improving efficiency and reducing costs to achieve the necessary competitive edge.

“Premised on the above and barring any unforeseen circumstances, the group is optimistic of achieving better performance and growth in financial year 2014,” it said.