By ANGELA TAN
Multi-Chem Limited reported on Friday a return profits for the second quarter and half year 2010 as the demand for electronic products improved along with the global economy.
Net profit for the second quarter ended June 30, 2010 was at S$1.44 million, compared to a net loss of S$185,000 a year ago.
Revenue for the quarter was up 24 per cent at S$40.94 million.
For the first half to end June, net profit was at S$2.48 million, compared to a net loss of S$3.73 million a year ago. Turnover was at S$79.7 million, up 17.6 per cent.
For the six month period, the IT distribution business accounted for 81.5 per cent of its revenue, while the manufacturing service and PCB-related distribution business accounted for the remaining 18.5 per cent of group revenue.
Cash and cash equivalent stood at $29.7 million on June 30, 2010, up from $10.3 million a year ago.
Like a year back, no dividend has been declared this round.
