Animal tracking chips drive SICT
published : 18 Aug 2020 at 04:00
newspaper section: Business
Silicon Craft Technology Plc (SICT) announced its second-quarter performance was a net profit of 10.8 million baht, rising 317% year-on-year, driven by global demand for animal RFID tracking chips as many homebound consumers adopted new pets.
Total revenue was 75 million baht, a 0.41% increase year-on-year, of which the major revenue and profits came from animal RFID.
Of total revenue, 19.1% came from immobiliser microchips, 51.8% from animal identification chips and 27.5% from access control and interrogator chips.
Manop Dhamsirianunt, chief executive of SICT, said growth of animal RFID chips accounted for 27.6% of total growth year-on-year, attributed to an increase in orders from key customers.
Sales decreased by 38.6% year-on-year for car immobilisers, while revenue from interrogator and access control chips declined 0.69%.
In the first six months of 2020, SICT's net profit was 26.3 million baht on total revenue of 170 million from its three product groups.
Some 45.6 million baht came from immobilisers, 77.4 million from animal RFID and 45 million from interrogator and access control chips.
"The company did not face a great impact from the pandemic during the second quarter and was able to adapt in sales and marketing strategy during these challenging times," Mr Manop said.
"We have shifted from travelling overseas to meeting clients online, which decreases sales and marketing expenses.
"We will continue to invest in R&D to expand in potential industries such as telehealth, agriculture, environment and smartphone-connected sensor chips. Recent product development includes water cards and anti-counterfeit smart labels."