SINGAPORE (Feb 13): Mainboard-listed contract manufacturer Hi-P International saw its earnings for 4QFY2019 ended December plunge 50% to $22.4 million from $44.8 million in the previous year. 

This brings the group’s full-year earnings for FY2019 to $80.3 million, some 20.4% lower than $100.9 million in FY2018. 

Revenue for the quarter slid 10.2% to $396.9 million from $441.9 million a year ago. The decline was primarily attributable to price pressures, as well as lower sales volume for certain customers. 

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