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Elec & Eltek earnings surge five-fold to US$7.6 mil in 2Q

Stanislaus Jude Chan
Stanislaus Jude Chan8/14/2017 08:21 PM GMT+08  • 1 min read
Elec & Eltek earnings surge five-fold to US$7.6 mil in 2Q
SINGAPORE (Aug 14): Elec & Eltek International Company posts a five-fold increase in earnings to US$7.6 million ($10.3 million) in the 2Q ended June, from US$1.5 million a year ago.
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SINGAPORE (Aug 14): Elec & Eltek International Company posts a five-fold increase in earnings to US$7.6 million ($10.3 million) in the 2Q ended June, from US$1.5 million a year ago.

Gross profit increased 18.4% to US$17.4 million in 2QCY17, on the back of a 3 percentage point improvement in gross profit margin to 14.6%.

This was due to an increase in external sales, higher selling price of laminates due to an undersupply in the market, as well as further improvements in its printed circuit board (PCB) plant’s operating efficiency.

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