Trek 2000's Q2 earnings up 3.3% at US$1.1m

A HIGHER demand for Internet of Things related products boosted earnings for Trek 2000 International (Trek 2000) for its second quarter.

Net profit rose 3.3 per cent to US$1.1 million from the previous year, the group said in a Singapore Exchange filing on Thursday evening. Q2 earnings per share slipped to 0.34 US cent from 0.36 US cent in the year-ago period.

For the three months ended June 30, revenue rose 16.6 per cent to US$48.8 million from the previous year, contributed mainly by the group's core Interactive Consumer Solutions division. There had been an increase in demand for Internet of Things Wi-Fi memory modules and solutions, said Trek 2000.

The group said that business conditions will remain challenging, and that it will continue to commit efforts to developing new innovations and expanding product offerings.