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Multi-Chem sees 1HFY2022 earnings decline 17% y-o-y to $9.7 mil

Felicia Tan
Felicia Tan8/5/2022 06:11 PM GMT+08  • 2 min read
Multi-Chem sees 1HFY2022 earnings decline 17% y-o-y to $9.7 mil
Multi-Chem has declared an interim dividend of 6.60 cents per share, which will be paid on Sept 9.
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Multi-Chem, whose main business is in the distribution of IT products, has announced earnings of $9.7 million for the 1HFY2022 ended June, 17% lower than the earnings of $11.6 million in the same period the year before.

Revenue for the six-month period increased by 1.1% y-o-y to $301.9 million on the back of slightly higher revenue from the company’s IT division and printed circuit board (PCB) division.

Gross profit fell by 2% y-o-y to $41.8 million mainly due to the higher allowance for inventory obsolescence of $877,000 from $1.2 million in the 1HFY2021 to $2.0m in the 1HFY2022 based on the review of inventory obsolescence performed as at June 30.

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