Due to the same reasons, revenue for the quarter fell by 13.0% y-o-y to $172.5 million. During the quarter, Frencken’s revenue for its mechatronics division fell due to the sharply lower sales of the industrial automation and semiconductor businesses at its Asia operations which more than offset the more robust sales from its European operations.
Frencken Group (SGX:E28
) has reported earnings of $5.2 million in the 1QFY2023 ended March 31, 59.5% lower y-o-y.
The reduced earnings come amid the steep cyclical downturn in the semiconductor industry and the ongoing macroeconomic headwinds.
