Frencken's gross profits increase 14.9% to $33.5m in Q3
Its profit margin increased to 17.1% due to increased material, freight costs.
Frencken Group and its subsidiaries provided a voluntary update on the group's business and financial performance for the third quarter of 2021, and the nine months ended on 30 September.
For the third quarter of (Q3) 2021, the group's gross profit increased 14.9% YoY to $33.5m.
Gross profit margin eased slightly to 17.1% in Q3, mainly due to increases in material and freight costs.
For the first nine months (9M) of 2021, the group's gross profit margin expanded to 17.3% from 16.3% in 9M 2020 due to higher revenue and shift in sales mix.
The group's revenue increased 18.7% year-on-year to $196.5m in Q3, lifted by higher sales of the semiconductor, analytical, and medical segments. It was also partially offset by softer sales of the industrial automation and automotive segments.
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