35.2 C
Manila
Thursday, July 9, 2020
 
Home Business At a Glance IMI profit down 81.6% in Jan-June

IMI profit down 81.6% in Jan-June

 

LISTED Integrated Micro-Electronics Inc. (IMI) saw its net income drop to $5.8 million in the first six months of 2019 amid challenges faced in the market. In a filing on Thursday, the Ayala-led manufacturing-solutions provider said the figure was an 81.6-percent plunge from the $31.6 million recorded in the same period last year. Consolidated revenues, it added, also fell by 5 percent to $636 million from $668.8 million year-on-year. IMI said its “profitability remains challenged by a lower volume demand on our new programs, where we have invested additional fixed overhead, the persistent component shortages which drove higher material prices, and the delays of new generation chipsets affecting Via Optronics revenues.” Shares of IMI fell by 30 centavos or 3.16 percent to close at P9.20 apiece on Thursday.

 

Australia offers safe haven to Hong Kongers in the country

SYDNEY: Australia on Thursday offered protections for Hong Kongers living in the country in response to China's imposition of a tough national security law...

LandBank offers ‘study-now-pay-later’ loan

PARENTS and guardians/benefactors of students enrolled for the upcoming school year can directly avail of loans up to P300,000 from the Land Bank of...

San Lazaro Covid ward ‘almost full’, says hospital exec

THE coronavirus disease 2019 (Covid-19) ward in San Lazaro Hospital in Manila is close to its full capacity, its chief for infectious diseases said...

Backriders allowed on motorcycles but for ‘couples only’ — Año

THE National Task Force (NTF) has allowed backriding on motorcycles nationwide for couples starting on Friday, Interior Secretary Eduardo Año said on Thursday. "Yes simula...

PH hits record 2,539 Covid cases in a day as numbers rise to 50,000

AT least 2,539 new cases of the Coronavirus disease 2019 (Covid-19) were tallied on Wednesday, the highest in a single day, as the total...
 

Weather

Today's Front Page