Frencken Group has announced earnings of $9.2 million for the 3QFY2024 ended September, up 29.3% y-o-y as compared to the same period last year.
For the same period, the group reported a 7.7% y-o-y increase in revenue at $198.6 million, due to higher contribution from Frencken’s mechatronics division.
Meanwhile, gross profit margin was up at 14.0% in 3QFY2024, compared to 12.4% in 3QFY2023, following better operating leverage for the period.
For the nine months ended Sept 30, the group reported a 6.7% y-o-y increase in revenue at $571.3 million, and a 42.5% y-o-y increase in earnings to $27.3 million.
As at Sept 30, Frencken’s cash and cash equivalents stood at $135 million, while its total assets was at $732.9 million.
For the same period, the group says it remains in a “sound financial position” with net cash of $40.8 million and a total debt-to-equity ratio of 22.3%.
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Looking ahead, the group expects to post higher revenue in 2HFY2024, as compared to 1HFY2024.
It says it is “committed to its key customers as a long-term strategic manufacturing solutions partner and will continue to focus on appropriate investments to support their current and future programs”.
“While the group remains cautious in light of the economic uncertainties, Frencken is continuing to build on its global platforms to capitalise on potential market recovery and business opportunities across its diverse portfolio in 2025,” adds Frencken.
Shares in Frencken Group E28 closed 2 cents higher, or up 1.7%, at $1.20.
