Gross profit margin inched up to 7.1% in 1H17 from 6.6% in 1H16, driven mainly by the higher margin achieved by the consumer products distribution business. The electronic components distribution business posted lower gross profit margin in 1H17 affected by keen competition.
SINGAPORE (Aug 4): Serial System, the distributor of electronic components and consumer products, posted earnings of US$6.1 million ($8.3 million) in 1H17 compared to a loss of US$3.3 million in 1H16 on higher margins and smaller losses from associates.
The group’s total revenue of US$706.9 million in 1H17 was 1% lower compared to US$711.4 million a year ago. Revenue from electronic components distribution business increased 17% to US$677.3 million on growth in Hongkong, China and South Asia Pacific.
