Cheung Woh recovers with $1.56m Q3 profit

CHEUNG Woh Technologies returned to the black for the third financial quarter with a $1.56 million net profit.

The company, which supplies precision hard disk drive (HDD) components, earned 0.51 cent per share for the three months ended Nov 30, 2013. It incurred a net loss of $289,000, or 0.1 cent per share, a year earlier.

Revenue rose 13.8 per cent year-on-year to $16.1 million on strong consumer demand for HDDs and precision metal stamping components during the quarter, the company said.