Corporate News
Updates On Interim Performance For Six Months Ended 30 September 2001
Willas-Array Electronics (Holdings) Limited today announces that the Group's financial performance for the first six-months ended 30 September 2001 has been adversely affected by the worse-than-expected slowdown in the global electronics sector.
Sales are expected to decline by approximately 25% compared to the first six months of last year while profit after tax is expected to show a larger decline due to margin erosion stemming from the oversupply of various electronics components. In the corresponding period of the previous year, sales and margins were boosted by the general economic recovery and the strong demand for cellular phones and personal computers.
The outlook for the market remains uncertain and the poor visibility is compounded by the recent terrorist attacks in the US. However, the Group remains committed to alleviating the negative impact of the present poor market condition by continuing to look for more business opportunities and avenues of growth, as well as implementing stringent cost saving measures.
