Memiontec Holdings has reported earnings up $3.2 million for its FY2023, up 26.8% y-o-y.
Revenue increased by 56.2% to $66.9 million, driven by increase in revenue contributions from segments such as total solutions with engineering, procurement and construction.
Gross profit grew 7.6% y-oy to $9.29 million, while gross profit margin stood at 13.9%.
As at Dec 31, 2023, cash and cash equivalents stood at $12.49 mil.
The company is proposing a final dividend of 0.196 cents per share in FY2023.
With rising demand for water and wastewater solutions, Memiontec continues to seek opportunities to grow in the region. Notably, it is looking to enlarge the pipeline of its BOOT/TOOT projects in the region with the intention of expanding our recurring income base, says executive director and CEO Tay Kiat Seng.
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“In Singapore, it is anticipated that tenders of larger scale public tenders relating to membrane processes and mechanical, electrical, instrument, control and automation works for water reclamation plants and other water works will be undertaken by PUB. The group will participate in such tender exercises, keeping in mind the competitive environment,” he adds.
Shares in Memiontec closed flat on Feb 29 at 10.1 cents.
