Globetronics Technology Bhd (KLSE:GTRONIC) released its full-year 2023 financial report, revealing a 27% decrease in revenue to RM131.8m from the previous year. Net income also decreased by 42% to RM26.4m, with a profit margin of 20%, down from 25% in 2022. Despite the decline in revenue, Globetronics Technology Bhd’s EPS exceeded analyst expectations by 1.3%. However, revenue fell short of analyst estimates by 14%.
Looking ahead, the company is forecasting a 12% annual growth in revenue over the next three years compared to a 14% growth forecast for the Semiconductor industry in Malaysia. Despite this, the Malaysian Semiconductor industry has not been as strong as expected, with Globetronics Technology Bhd’s shares down 7.1% from a week ago. Investors should be aware of this warning sign before making any investment decisions.
Globetronics Technology Bhd’s performance has not been as strong as anticipated, but investors should keep an eye on the company’s future prospects and potential risks before investing. If you have any feedback or concerns about this article, please feel free to reach out to us directly. Our analysis is based on historical data and analyst forecasts and should not be considered financial advice. We aim to provide unbiased analysis driven by fundamental data and encourage investors to conduct their own research before making any investment decisions.
