Hi-P’s 1Q19 revenue and profit to come in ‘similar’ to 1Q18

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Hi-P International on Tuesday issued profit guidance for the first quarter of 2019 revenue and profit to come in similar to levels in the first quarter of 2018.

The guidance change is an upgrade of the outlook the contract manufacturer offered in late February, when it said it expected first quarter revenue to be similar and profit to be lower than in the year-ago quarter, according to Hi-P’s filing to SGX after the market close on Tuesday.

“The difference between our unaudited results and the previous guidance for 1Q2019 is mainly due to additional cost savings,” Hi-P said in the filing.

Hi-P reported in April 2018 that its revenue for the first quarter of 2018 was S$281.10 million and its net profit was S$10.09 million.

 

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