Revenue on the other hand has grown by 9.3% y-o-y to $198.4 million, driven primarily by double-digit sales growth of the group’s mechatronics division, which saw higher sales in the semiconductor, analytical & life sciences and industrial automation segments.
In its 1QFY2022 ended March business update, Frencken Group announced that its earnings declined by 12.6% y-o-y to $12.8 million from $14.7 million a year ago, due mainly to a decline in gross profit margin and higher selling and distribution, administrative and general expenses amid heightened supply chain challenges from the second half of FY2021.
Higher prices of materials, freight and energy in 1QFY2022 compared to the same period a year ago have driven up input costs and the group says that it is working on cost mitigation actions.
