Global Invacom Group Ltd - Singapore-based satellite communications equipment and electronics provider - Says revenue in the six months ended June 30 was USD31.3 million, down from USD37.4 million year-on-year. Net loss narrows to USD2.1 million, from USD3.3 million the year prior. Expects gross profit to be USD8.3 million, up from USD7.4 million year-on-year. The company says it plans to announce its full first half results by August 14.
"Supply chain disruption continues in challenging market conditions; however the implementation of efficiencies at the group's US manufacturing facilities, combined with actions from the ongoing strategic review, have contributed to improved profit margins and reduced losses," says Global Invacom.
Current stock price: USD0.035
12-month change: down 50%
By Will Neill, Alliance News reporter
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