Lower earnings for Globetronics in third quarter

PETALING JAYA: Globetronics Technology Bhd net profit for the third quarter (Q3) ended Sept 30, 2021 dropped 9.8% year-on-year to RM16.3mil while revenue decreased 15.1% to RM55.66mil.

Globetronics said in a filing with Bursa Malaysia that the lower net profit was mainly due to reduced volume loading from certain customers and a drop in economy of scale.

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Globetronics Technology , Bursa Malaysia , Covid-19

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