Globetronics Technology Bhd (KLSE:GTRONIC) reported its full-year 2023 financial results, showing a decrease in revenue to RM131.8m, down 27% from the previous year. Despite the decline in revenue, Globetronics Technology Bhd’s EPS exceeded analyst expectations by 1.3%. However, revenue fell short of analyst estimates by 14%.
Looking ahead, the company is forecasting a 12% annual growth in revenue over the next 3 years, compared to a 14% growth forecast for the Semiconductor industry in Malaysia. The Malaysian Semiconductor industry has not been as strong, with Globetronics Technology Bhd’s shares down 7.1% from a week ago. Investors should be aware of this warning sign before making any investment decisions.
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