Willas-Array Electronics posts $61.6m net loss in 9M 2024

The group’s revenue also fell by 31.4% to $1.8b.

Willas-Array Electronics recorded a net loss attributable to owners of the company of $61.6m for the nine months ended on 31 December 2024.

According to a bourse filing, the decrease was attributed to a decrease in exchange loss arising from the depreciation of the renminbi against Hong Kong dollars and net impairment losses reversed under expected credit loss on trade receivables.

This was also linked to a decrease in finance costs attributed to a lower weighted average effective interest rate and a decrease in staff costs.

The group’s revenue fell by 31.4% to $1.8b with all the business segments reporting weaker sales.

The group’s gross profit margin also dipped to 3.7%.