AEM remains 'best and biggest port' amid Covid-19 storm: KGI
Uma Devi • • 3 min read
KGI analyst Kenny Tan says AEM's guidance raise reflects a “changing sentiment” due to continued orders from Intel. In addition, companies in the tech sector can generally remain defensive amid the Covid-19 pandemic.
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SINGAPORE (May 14): As many companies settle for lower earnings and revenue due to the Covid-19 pandemic, AEM Holdings bucked the trend with its ‘best quarter on record’ for 1QFY2020 ended March.
The provider of equipment systems solutions and manufacturing services booked earnings of $43.8 million, a 449% surge compared to the previous year. This came on the back of a 179% increase in revenue to $146.8 million from $52.7 million in 1QFY2019, due to increased orders from its main customer, Intel.
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