Cost of sales decreased by 6.5% or $1.1 million compared to 1Q17. Cheung Woh says the decrease was not in line with decrease in turnover due to higher materials, labour and overhead costs incurred in 1Q18. As a result, gross profit margin dropped compared to 1Q17.
SINGAPORE (July 10): Cheung Woh Technologies reported a loss of $1.5 million for the 1Q18 ended May compared to earnings of $3.2 million a year ago due to lower sales and higher costs incurred.
The manufacturer and supplier of precision HDD components reported turnover of $16.6 million in 1Q18, a decrease of 21.2% compared to $21 million a year ago.
