JCY - profit to loss

It posted a net loss of rm61.61 million for the full year ended Sept 2013 against a net profit of rm427.29 million in the last financial year.

Total revenue slumped to rm1.59 billion from rm2.24 billion a year ago.

The overall poor performance was primarily due to weaker sales volume and lower prices.

JCY raised concern that mechanical component supply chain is becoming competitive, given the continued pressure on components pricing and possible over capacity.

Market observers are widening its FY2014 core loss by 1% while reducing its FY2015 core earnings by 5%.

Industry observers are of the view that JCY being a pure HDD component marker, is exposed to product concentration risk.