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Thailand-based EMS firm SVI Public Co. Ltd has reported consolidated sales of THB3.74 billion ($117.7 million) for the second quarter of 2018, up by 20.6% from the same quarter in the previous year. Sequentially, Q2 recorded a 14.8% growth.
Growth is attributed to strong demand from current customers across all sectors, while improvement in materials shortage environment and the company's ability to attract higher volume sales helped enhance profitability.
The industrial products, communications and network sectors were gaining momentum in the quarter. In addition to strong demand from current customers, SVI successfully won key automotive business, allowing the robust growth to continue through 2019. Cumulatively, sales for the six months of the year totaled THB6.997 billion ($221.5 million), and is on track for the company's internal target for 2018.
SVI recorded a consolidated gross profit of THB361.8 million ($11.4 million) in Q2 2018, up by 34.2% from the same period last year. Consolidated gross profit expanded to 9.7% compared to 8.7% of the same period of last year.
Consolidated net income reached THB270.8 million ($8.5 million), more than double or up by 116.8% from the same period last year. Compared to the previous quarter, net income was up by 323.4%.