Trek 2000 International sinks into the red in FY15

HIT by a sharp rise in the cost of goods sold, Trek 2000 International on Tuesday reported a net loss of US$6.72 million for FY2015 compared to a net profit of US$1.15 million a year ago.

Revenue rose 34.5 per cent year on year to US$149.14 million, driven by higher revenue from its main interactive consumer solutions business.

Loss per share worked out to 2.18 US cents, versus earnings per share of 0.39 US cent a year ago.

For the year under review, cost of goods sold surged nearly 47 per cent to US$145.16 million, which caused gross profit to slump 66.5 per cent to US$3.98 million.

The group said: "Trek continues to drive developments within three main areas of consumer wearable, medical and cloud technologies. The group's key focus going forward lies in the medical technology industry, where an ageing population brings about a need for new and innovative solutions within healthcare to tackle the upcoming challenges."