Globetronics Technology Bhd’s 2023 Financial Results: Revenue and Net Income Decline, But EPS Exceed Expectations
Globetronics Technology Bhd (KLSE:GTRONIC) released its 2023 financial results, showing a decline in revenue to RM131.8m, down 27% from the previous year. The net income also decreased by 42% to RM26.4m, with a profit margin of 20%, down from 25% in 2022. Despite the decrease in revenue, the company’s EPS exceeded analyst expectations by 1.3%. However, revenue fell short of analyst estimates by 14%.
Looking ahead, Globetronics Technology Bhd is forecasting a 12% annual growth in revenue over the next three years, compared to a 14% growth forecast for the Semiconductor industry in Malaysia. However, the Malaysian Semiconductor industry has not been as strong as expected, with shares down 7.1% from a week ago. It is important for investors to be aware of this warning sign before making any investment decisions.
Despite these challenges, Globetronics Technology Bhd remains committed to providing high-quality products and services to its customers. The company has invested heavily in research and development to stay at the forefront of the industry and develop new technologies that will drive growth and innovation. In addition, Globetronics Technology Bhd has implemented cost-saving measures to improve its profitability and increase shareholder value.
If you have any feedback or concerns about this article, please feel free to get in touch with us directly. Our analysis is based on historical data and analyst forecasts and should not be considered financial advice. We aim to provide unbiased analysis driven by fundamental data and it is important for investors to do their own research before making any investment decisions.
