Globetronics posts lower Q2 profit as virus disrupts supply chain

KUALA LUMPUR: Globetronics Technology Bhd, a maker of integrated circuits and optoelectronic products, said its second quarter results were affected by supply chain disruption due to the Covid-19 pandemic.

Revenue slipped 5% to RM44.9mil, while net profit dropped 38% to RM5mil from RM8.1mil a year ago.

Despite the lower profit, the company has maintained its interim dividend payout at 2 sen a share.

"The Group's financial performance may continue to be impacted by the Covid-19 outbreak and the disruption in the global supply chain as we saw collapse of economic activities arising from the implementation of MCO, lockdown or stay at home order," Globetronics said in a filing with Bursa Malaysia today.