StockMarketWire.com - Satellite communications equipment company Global Invacom swung to a loss in the first half of the year as supply chains and problems with the availability of key products weighed on performance.

For the six months ended 30 June 2021, pre-tax loss was US$1.1 million, compared with a profit of US$0.5 million last year, as revenue slipped to US$40.4 million from US$52.8 million.

'Geographically, we saw ongoing sales pressure in America, Europe and Asia, with an increase in demand across the Rest of the World,' the company said.

'The United States, which remains a significant market for the Group, continues to be impacted by the ongoing pandemic, which has translated to a fall in anticipated orders,' it added.

Looking ahead, the company said the challenges faced by the group in the first half 'will likely continue to impact the group's business throughout FY2021.'




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