Home Capital Results

Frencken Group posts 12.6% drop in 1Q earnings to $12.8 mil on lower margins, higher expenses

Samantha Chiew
Samantha Chiew5/17/2022 05:49 PM GMT+08  • 3 min read
Frencken Group posts 12.6% drop in 1Q earnings to $12.8 mil on lower margins, higher expenses
Frencken Group posts 12.6% drop in 1Q earnings to $12.8 mil on lower margins, higher expenses
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

In its 1QFY2022 ended March business update, Frencken Group announced that its earnings declined by 12.6% y-o-y to $12.8 million from $14.7 million a year ago, due mainly to a decline in gross profit margin and higher selling and distribution, administrative and general expenses amid heightened supply chain challenges from the second half of FY2021.

Higher prices of materials, freight and energy in 1QFY2022 compared to the same period a year ago have driven up input costs and the group says that it is working on cost mitigation actions.

Revenue on the other hand has grown by 9.3% y-o-y to $198.4 million, driven primarily by double-digit sales growth of the group’s mechatronics division, which saw higher sales in the semiconductor, analytical & life sciences and industrial automation segments.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now