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Monday, July 22, 2013

JCY expects return to profitability by 2HFY13 (CIMB)

Hard disk drive component maker JCY International Bhd expects sales and earnings to pick up in the second half of the year to at least "break even" for the 2013 financial year. FY14 looks brighter for JCY to manufacture the new 5mm hybrid drives which will increase production by 20%. Although the group sees a return to profitability by 2HFY13 such gains may be offset by inventory and wage adjustments - the latter due to the implementation of the minimum wage policy in the country. (Financial Daily)

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