MANILA, Philippines--The slowdown in the global economy and downturn in the automotive market amid the US-China trade war and Brexit gnawed on the first semester earnings of Ayala-led electronics manufacturer Integrated Micro-Electronics Inc. (IMI) IMI ended the first half with $5.8 million net income, a steep decline compared to last year's first half earnings of $31.6 million, the company disclosed to the Philippine Stock Exchange. Consolidated revenues declined by 5 percent to $636 million in the first semester. It was affected by lower volume demand on new programs where it had invested additional fixed overhead, the persistent component shortages which drove higher m...
Keep on reading: Trade war, Brexit woes curb IMI earnings
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