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GrandTech (TPEx:6123) reported YoY -16% growth on April 2020 consolidated revenue of NT$305M

Taipei, Taiwan, R.O.C., May 07, 2020 -- GrandTech (TPEx: 6123) reported consolidated revenue at NT$305M in April 2020, decreased 16% compared to the same period last year.

GrandTech quoted, global economic continues to take a hit from COVID-19, while April is traditional slow month. HK campus project has been delayed, Singapore and Malaysia continue to lock down in April, which impacted on the company’s performance in April. However, the group’s Annual Recurring Revenue (ARR) maintain stable momentum, Malaysia and Singapore Government had also promoted policies of cash subsidy, assisting enterprises to overcome the business loss.

Despite the virus raging around the globe, GrandTech will respond positively to the uncertainties of the economy to reduce the overall impact and will committed to focusing on prudent strategy to restore stable revenue growth after the epidemic.

Additionally, GrandTech Board of Directors has approved 2020 Q1 Audited Financial Reports on 7th May 2020, Earnings Per Share After Tax at NT$0.74, decide not to distribute Q1 dividend temporarily. 2019 Q4 Cash Dividend at NT$2.6 per share, Ex-date at 10th June, Entitlement date at 16th June, will distribute dividends on 10th July.

2020 revenue report (consolidated): (Unit:NT$ thousands)

Period

2020
consolidated
revenue

2019
consolidated
revenue

YoY
Increase (Decrease)
Rate%

April

305,781 364,960

-16%

Note: April 2020 revenue is unaudited consolidated account.

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