PLASTOFORM reported lousy results in 2Q 2013.
Lost HK9.3 m compared to 8.3 loss in 2q2012.
(But note that it had to do with a one-off provision for impairment of trade receivables of HK$5.3 million from a major UK-based customer)
I am keeping watch for a turnaround in 2H.
Positives are:
- Healthy net cash position of HK$55.6 million as at June 30, 2013;
- Expected uplift in demand for Bluetooth audio speakers in second half of 2013 with new product launches and the signing of new customers including major audio players: Jabra, Dell and Corsair
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