Frencken: FRENCKEN Group’s net profit fell 12.6 per cent year-on-year to S$12.8 million in Q1 due to higher costs and heightened supply chain challenges in the second half of FY2021.
“Higher prices of materials, freight and energy in 1QFY22 compared to 1QFY21 have driven up input costs and the group is working on cost mitigation actions,” the mainboard-listed company said in a business update on Tuesday (May 17).
Revenue went up 9.3 per cent year-on-year to S$198.4 million, driven primarily by double digit sales of the group’s mechatronics division, which accounted for 87.1 per cent of the manufacturer’s revenue in Q1.
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