KUALA LUMPUR (Aug 26): Greatech Technology Bhd’s net profit for the second quarter ended June 30, 2022 (2QFY22) dropped 34.43% to RM25.17 million from RM38.38 million a year ago, due to the effects of prolonged supply chain constraints and cost escalation. Earnings per share (EPS) declined to 2.01 sen from 3.07 sen, as a result. According to Greatech, the current financial quarter’s margin was negatively impacted by the timing to turn production line systems (PLS) order bookings into revenue, due to extended supply chain constraints. For the first half ended June 30, 2022 (1HFY22), the group’s net profit lost 36.39% to RM54.1 million from RM85 million a year earlier, while its revenue diminished 4.86% to RM220.25 million from RM231.5 million. As of Aug 18, Greatech said its order book stood at RM506.67 million, which is expected to last until the 2HFY23.
