Aside from lower contributions from Santak’s precision engineering division, the sales of its trading and distribution division was also lower compared to FY2022.
Gross profit for the financial year also decreased significantly primarily due to substantially lower economies of scale recorded as a result of the substantial decrease in turnover. Other operating expenses increased in FY2023 arising from a higher foreign exchange loss registered in the period compared to FY2022.
Santak will report its earnings for FY2023 before the end of August.
Shares in Santak closed flat at 3.2 cents on Feb 3.
