Administrative expenses decreased 19.5% to US$5.2 million in 2Q17 from US$6.5 million due to ongoing cost-saving exercises initiated during FY16 including the consolidation of the two operations in China.
As at end June, cash and cash equivalents stood at US$10.1 million.
Tony Taylor, Executive Chairman of Global Invacom, says, “We will continue to expand our product portfolio through ongoing R&D and execute our strategy to become the lead provider, designer and manufacturer of satellite ground equipment worldwide.”
Shares in Global Invacom last traded at 16 cents on Tuesday.
