The drop was largely due to the semiconductor industry's down cycle. In addition, costs and depreciation increased.
Analysts have trimmed their respective target prices for Frencken Group (SGX:E28
) following lower 1QFY2023 earnings.
For the three months to March, the manufacturer reported earnings of $5.2 million, down 59.5% y-o-y, while revenue was down 13% to $172.5 million.
