METALS supplier Nico Steel is expecting to record a"significant increase" in its full-year unaudited profit attributable to shareholders for the year ended Feb 28, 2019, as compared to a year ago due to an improvement in the group's operating results.
In its profit guidance issued on Friday, the company also said that it expects second-half net profit to be higher than the US$121,000 earned in the first half of its fiscal year. "The ongoing trade dispute between the United States and China that started in July 2018, the global economicslowdown, and the delay in the 5G network implementation adversely affected our customers’ plans for newmobile device projects and launches. Nevertheless, the expected increase in the unaudited consolidated profit attributable to shareholders for FY2019 is primarily due to an improvement in the operating results of the group," the company said.
"Given consumers' increasing expectations for the functions and user experience of mobile devices, in particular, the impending 5G revolution, it is inevitable for mobile devices brand owners and/or manufacturers to pursue continuous upgrades of the hardware specs in their mobile devices to stay ahead of the competition.