Hi-P International enjoys another profitable quarter on higher sales, better product mix
Hi-P International has had another profitable quarter. It reported a net profit of $10.9 million for the second quarter, reversing from a loss of $2.1 million in the same period last year.
The contract manufacturer had reported a profit of $6.9 million in the first quarter.
Revenue for the three months to June 30 rose by 13.2 per cent to $285 million.
The rise in revenue was mainly due to increased orders from existing customers, while the better product mix resulted in the reversal from a net loss.