CDW Holding flags 'substantial reduction' in full-year profit

CONSUMER electronics component manufacturer CDW Holding on Thursday night flagged that the group is likely to report a "substantial reduction" in net profit for the year ended Dec 31.

This is mainly due to fewer orders attributable to inventory adjustment in the gameset division of its LCD backlight units segment, the delay in mass production orders in its OEM (original equipment manufacturer) business, as well as the impairment of financial assets, the company said.

It added that details of its financial performance, including a reduction in consolidated operating profit, will be disclosed when the group finalises its unaudited financial results for FY2018.

As at 10.51am on Friday, CDW shares were trading at S$0.172 apiece, down 0.58 per cent, or 0.1 Singapore cent. The group has a market cap of about S$40.7 million.