Memtech reports 57% fall in second quarter profit

Singapore

ELECTRONICS components manufacturer Memtech International on Monday posted a net profit of US$2.1 million in its fiscal second quarter, down 56.9 per cent from the same period a year earlier, as margin compression offset a rise in revenue.

Revenue in the three months ended June 30 rose 19.1 per cent to US$45 million, led by the automotive segment where revenue jumped 32.6 per cent to US$22.3 million.