GP Industries expects to record earnings between $13.5 million to $15 million for its 1HFY2025 ended September, up from the $8.9 million it recorded in the previous corresponding period.
The profit enhancement is mainly attributable to the improved gross profit margin, enhanced product mix and operational efficiencies after the completion of rebalancing the group’s manufacturing facilities in China and Southeast Asia.
GP Industries’ total revenue generated by its rechargeable batteries business is expected to drop substantially after the completion of the distribution in specie of shares in GP Energy Tech Limited in January. However, this was offset by the increase in its primary batteries products and KEF brand products business.
The company is still in the process of finalising its financial results for 1HFY2025.
Shares in GP Industries closed flat at 49 cents.
