According to Frencken, gross profit margin in 3QFY2023 contracted to 12.4% from 13.7% in the corresponding period last year due to lower revenue, inflationary cost pressures and increased depreciation expenses that arose from capital investments to upgrade and expand its global manufacturing facilities.
Frencken Group E28 has announced earnings of $7.1 million for its 3QFY2023 ended Sept 30, a 35.1% y-o-y decline, as the technology sector continued to face challenging business conditions during the quarter.
For the same period, the company reported revenue of $184.4 million, down 5.6% compared to 3QFY2022.
