Global Invacom Group, a satellite company listed in Singapore and the U.K., announced that it anticipates reporting a reduced net loss and higher gross profit for the first half of the year. Despite a decline in revenue, the company’s increased focus on product mix and implementation of efficiencies at its U.S. manufacturing facilities have contributed to these positive results.
The net loss for the first half of the year is expected to be around $2.1 million, compared to a loss of $3.3 million in the same period last year. Although revenue is projected to decrease from $37.4 million to $31.3 million, the company’s gross profit is set to rise from $7.4 million to $8.3 million. This increase can be attributed to Global Invacom’s enhanced business focus on product mix, resulting in improved profit margins jumping from 19.7% to 26.5%.
Despite facing ongoing supply-chain disruptions in challenging market conditions, Global Invacom Group’s strategic review and the implementation of efficiencies at its U.S. manufacturing facilities have helped to mitigate losses and drive improved profitability.
The company’s London-listed shares remained unchanged at 4.85 pence as of 0900 GMT.