Asia Pacific Wire & Cable Nine-month Period Profit Declines 46% - Quick Facts

(RTTNews) - Asia Pacific Wire & Cable Corp. Ltd. (APWC) reported that its net income attributable to shareholders for the first nine-month period of 2013 dropped to $3.1 million or $0.22 per share from $5.7 million or $0.42 per share in the prior-year period.

However, revenues for the period grew 1.2 percent to $336.4 million from $332.5 million in the same quarter last year.

Looking ahead, the company said it expects to enter the high voltage power cables SDI projects in the coming years with its Singapore-based subsidiary Sigma Cable Company Pte. Ltd. begun to expand SDI project work from medium voltage to higher voltage power cables.

The shift in product mix is expected to generate higher margin for the subsidiary and is expected to open up additional market opportunities in the country.