Memtech International Ltd. Announces Unaudited Group Earnings Results for the Second Quarter and Half Year Ended June 30, 2017; Provides Earnings Guidance for the Year 2017
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.