Delta Electronics cites external factors in share price fluctuations

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There’s been a recent development with Delta Electronics (Thailand). The company has informed the Stock Exchange of Thailand (SET) that the company’s recent share price fluctuations are the result of external factors and that its financial fundamentals remain strong. Following a slump of 18.3% on Tuesday, Delta’s shares experienced volatility yesterday, closing up 0.26%. The trading alert on Delta’s shares will remain effective until July 10.

 

In a recent SET filing, company president and director Jackie Chang explained that the fluctuations in Delta’s stock price are due to “various market conditions and external factors beyond our control.” He added, “Consequently, we are unable to provide comments on this matter. However, we want to assure our shareholders and the public that the company’s long-term business strategy remains unaffected by the stock market fluctuations.”

 

Chang emphasised that Delta Electronics’ current free float is at 22.3%, well above the SET’s minimum requirement of 15%. He also cited the strong year-on-year revenue and profitability growth in the first quarter of this year as evidence of the company’s robust financial fundamentals.

 

The director said Delta Electronics is dedicated to growing sustainably for the benefit of all stakeholders and adhering to market regulations. Chang explained, “We prioritise domestic and international investments, capacity expansion, operational efficiency, cost optimisation, and enhanced R&D capabilities.”

 

By Alex Morgan

Caption: Photo Courtesy of deltathailand.com

 

Full Story: https://thethaiger.com/news/business/delta-electronics-cites-external-factors-for-share-price-fluctuations

 

-- © Copyright Thaiger 2023-06-22

 

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