Hi-P International warns of lower y-o-y profit & revenue for 3Q18

SINGAPORE (Oct 15): Industrial mould manufacturing company Hi-P International is expecting lower y-o-y revenue and profit in 3Q18, contrary to management guidance issued in its 2Q18 results announcement.

In a profit warning filed Sunday, the group says this is due to a delay in sales due to postponed billing of certain production tools, lower manufacturing yield for certain products during the initial ramp-up stages, and lower market demand for certain products.

It adds that more details will come when the unaudited financial 3Q18 results are announced.

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