Thursday, August 5, 2010

Genetec sees double-digit growth with RM48m order book

BANGI: ACE-Market listed machine design specialist Genetec TECHNOLOGY [] Bhd is expecting a double-digit growth for its revenue for the financial year ended March 31, 2011, as expects to increase its order book.

Its managing director Chin Kem Weng said on Thursday, Aug 5 that the company has an outstanding book order of RM48 million'' for the current financial year, and expects to secure more.

'This is going to be a good year as the unbilled RM48 million is expected to contribute to our earnings in the next few quarters. It should exceed our total RM50 million order book that we received last year,' he said at the AGM.

Chin said that it had been working closely with some customers keen to convert their old machinery and processes to improve their production capacity.

'We are working with them to come up with new prototypes which would improve their manufacturing yields and efficiencies. As such, they have raised their budgets," he added.

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