Avi-Tech Holdings has maintained earnings of $2 million for 1HFY2023, versus 1HFY2022. Revenue, for the same six months ended Dec 31 2022, was up 14.6% y-o-y to $17.8 million, with higher contributions across its various business segments.
The company explains that higher costs, specifically in power, put pressure on its margins.
It suffered from unfavourable forex movements too.
"Taking these challenges into account, Avi-Tech has achieved very respectful results with an increase in both revenue and profit, and generated higher operating cash flow,” says executive chairman and CEO Lim Eng Hong.
The company cautions that the macro-economic environment continues to face uncertainty."We remain cautiously optimistic for the financial year," says Lim.
The company plans to pay an interim dividend of 0.75 cents per share.
See also: Trump wins Republican nomination, setting up rematch with Biden
Avi-Tech last traded at 27 cents.
