Greatech fourth-quarter earnings up 77%

The factory automation solutions provider, which has seen its share price rise 267% in the last one year, announced that its net profit in the fourth quarter ended Dec 31,2020 surged almost 77% year-on-year (y-o-y) to RM31.83mil.

PETALING JAYA: Greatech Technology Bhd ended its financial year 2020 (FY20) with another round of strong quarterly earnings, led by increased demand for its production line systems from the electric vehicle (EV) energy storage industry.

The factory automation solutions provider, which has seen its share price rise 267% in the last one year, announced that its net profit in the fourth quarter ended Dec 31,2020 surged almost 77% year-on-year (y-o-y) to RM31.83mil.