Frencken Group has reported earnings of $9 million for 1QFY2024, a jump of 73% y-o-y. Revenue in the same period was up 12.2% to $193.6 million, with growth generated mainly by its mechatronics division.
Within mechatronics, revenue from its industrial automation segment recorded the highest growth of 49.5% y-o-y.
However, the semiconductor segment remains the key, with an increase of 37.4% y-o-y to $79.5 million.
Its analytical life sciences segment did well too, with revenue up 16.7% to $46.6 million.
Despite uncertain geopolitics, Frencken is confident it can weather the current headwinds due to its financial strength, diverse exposure to multiple market segments and entrenched relationships with key customers who are among the market leaders in the high technology industry.
Based on current indicators and barring unforeseen circumstances, Frencken expects its revenue in 1HFY2024 to be comparable to 2HFY2023.
See also: IHH Healthcare’s 3QFY2024 patmi remains flat at RM534 mil
Frencken shares closed May 14 at $1.36, up 3.03% for the day but down 0.73% year to date.
