Genetec says EV sector orders lifted Q1 earnings 


KUALA LUMPUR: Genetec Technology Bhd, whose share price has more than doubled over the past one month, posted a net profit of RM8.1mil in the first quarter.

Revenue was RM40.23mil.

"The increase in net profit before tax was mainly attributed to a higher sales volume and improved operational efficiency," the company said in a filing with Bursa Malaysia today.

"The Group has achieved a strong order book primarily from the Electric Vehicle (EV) sector which has significantly contributed positively to the performance of the current quarter and will be expected to continue performing in the subsequent quarters barring unforeseen circumstances," it added.

Earnings per share in the three month ended June 30 stood at 16.28 sen a share.

The stock was last traded at RM19.64 on Thursday.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Genetec Technology

   

Next In Business News

China Evergrande inches close to default deadline, investors wait
US agency confirms air bag safety probe into 30 million vehicles
India's summer grains output seen at record 150.50 mln tonnes in 2021/22
Stocks steady as markets calm after Evergrande-led slide
Oil edges up, as investors worry about global demand
Tanco bags RM172.66mil land reclamation job in Melaka
Sapura Energy CFO Reza leaves, Chew to take over�
Southern Steel registers RM47.9mil net profit in FY21
BDB-MBI Kedah JV to develop Langkawi Premium Outlets
Astro posts lower Q2 net profit due to elevated content cost�

Stories You'll Enjoy


Vouchers