PNE Industries, the manufacturer and trader of electronic and electrical appliances, has posted earnings of $1.3 million for the FY2024 ended September, up 70.5% y-o-y from the same period last year.
Earnings per share for the period stood at 1.5 cents, as compared to 0.9 cents in FY2023.
Revenue for FY2024 saw a 13.9% y-o-y increase to $61 million, on the back of an improvement in contract manufacturing sales due to higher customer demand.
Meanwhile, gross profit for the same period rose by 6.6% y-o-y to $11.3 million. The group says that despite a $7.4 million increase in sales, a less favourable product mix reduced the group’s gross profit margin to 18.6% for FY2024 from 19.9% in FY2023.
For the same period, other operating income increased by 2.9% y-o-y, due to a $0.4 million increase in foreign exchange gains and $0.1m gain on the disposal of property, plant and equipment (PPE).
The group declared a final dividend of 2 cents per share, which is expected to be paid on Feb 14, 2025.
See also: IHH Healthcare’s 3QFY2024 patmi remains flat at RM534 mil
Shares in PNE Industries BDA closed flat at 48.5 cents on Nov 27.
