Log In

Reset Password

APWC returns to profit in first half

Asia Pacific Wire & Cable Corporation provides services in calibration and testing, but also renewable energy system integration, together with bare and enamelled wires and communication and power cables

Bermudian-incorporated Asia Pacific Wire & Cable Corporation has reported a net profit attributable to shareholders of $20,000 for the first half of 2023, compared with a net loss of $30,000 for the first half of 2022.

The company said the increase in net profit was primarily because of a decrease in selling, general and administrative expenses, which were $11 million compared with $12.6 million in the first half a year ago.

The operating loss for the period was $2.8 million, compared with an operating profit of $1.8 million for the six months of 2022.

Revenues were $193.5 million, a decrease of 6.7 per cent from $207.4 million in the prior-year period. The decrease was primarily attributable to revenue decreases across the company’s Thailand and North Asia regions.

APWC reported $39 million in cash and cash equivalents as of June 30 compared with $54 million as of December 31, 2022.

Asia Pacific Wire & Cable Corporation is a holding company incorporated in Bermuda with principal executive offices in Taiwan that operates its business through operating subsidiaries.

Through its subsidiaries, the company is principally engaged in the manufacture and distribution of enamelled wire power cable and telecommunications products in Thailand, Singapore, Australia, China other markets in the Asia-Pacific region.

You must be Registered or to post comment or to vote.

Published September 28, 2023 at 4:45 pm (Updated October 01, 2023 at 7:07 pm)

APWC returns to profit in first half

What you
Need to
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon