Globetronics posts record quarterly net profit

Strong performance: Globetronics expects to see ‘significant improvement’ in business and volume loadings for all its major product portfolios for the rest of this year.

KUALA LUMPUR: Globetronics Technology Bhd recorded its strongest quarterly results yet this year in the third quarter ended Sept 30, helping to reassure shareholders who were last week told of the company’s need to conserve cash for its capital expenditures and expansion.

In its latest interim results report to Bursa Malaysia, the integrated circuits maker announced that its net profit soared 57.1% to RM14.40mil in the quarter under review from a year earlier.