Chip market eats into Astec profits

Chip market eats into Astec profits
Richard Wilson Weakness in the semiconductor market bit into turnover and profits at Astec, the power supply and component manufacturer. Pre-tax profit was one per cent down at ?13m for the first six months of the year, while turnover was ten per cent down at ?179.4m. As well as being hit by the weak semiconductor market which generates much of Astec’s high value business, the company has also seen weakness in the European PC market, a major user of its power supplies.


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