Memtech International Ltd. announced unaudited group earnings results for the second quarter and half year ended June 30, 2017. For the quarter, the company reported revenue of $37,750,000 against $31,424,000 a year ago, the Group revenue increased by 20.1% due to the increase in sales in consumer electronics segment. Profit before tax was $5,294,000 against loss before tax of $1,435,000 a year ago. Profit for the period attributable to owners of the company was $4,871,000 or 3.5 cents per basic and diluted share against loss for the period attributable to owners of the company of $1,400,000 or 1.0 cents per basic and diluted share a year ago. Net cash used in operating activities was $319,000 against $167,000 a year ago. Purchases of property, plant and equipment was $2,702,000 against $1,339,000 a year ago.

For the half year, the company reported revenue of $74,188,000 against $64,614,000 a year ago. Profit before tax was $7,235,000 against loss before tax of $459,000 a year ago. Profit for the period attributable to owners of the company was $6,468,000 or 4.6 cents basic and diluted share against loss for the period attributable to owners of the company of $831,000 or 0.6 cents basic and diluted share a year ago. Net cash generated from operating activities was $4,713,000 against $6,417,000 a year ago. Purchases of property, plant and equipment was $4,564,000 against $4,367,000 a year ago.

Nevertheless, the Group is cautiously optimistic of its performance for the remainder of year 2017, barring unforeseen circumstances.