SINGAPORE (May 9): Trek 2000 reported earnings of US$0.5 million ($0.67 million) for the 1Q ended March, down more than half from its 1Q17 earnings of US$1.2 million due to a fourfold decline in revenue.

Revenue fell 79.9% to US$8.4 million from US$41.8 million previously from reduced revenue in the Interactive Consumer Solutions (ICS) division, which accounted for 89.4% of group revenue in 1Q and has higher gross profit margin when compared to other segments.

The group attributes this quarter’s revenue contraction to an acute strategic component shortage, "board conflicts" and the absence of income post its divestment of Racer in 2017.  

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook