Mainboard-listed Aztech Global has reported 45.6% higher net profit y-o-y to $42.8 million for the 1HFY2022 ended June.
Similarly, its revenue grew 46.0% y-o-y to $364.6 million for the period.
No interim dividend has been declared. Aztech Global says it intends to conserve cash and recommend dividend payment annually together with its audited full-year results.
On May 13, the company paid a final dividend of 5 cents per ordinary share, totalling $38,597,647 for FY2022 ended December.
Earnings per share for 1HFY2022 stood at 5.55 cents, while net asset value (NAV) per share stood at 38 cents as at June 30.
“The group’s resilient 1HFY2022 performance was due to the unabated strong production volume and shipment of IoT devices and data-communication products to customers in 2QFY2022 as revenue surged 84.8% sequentially and 77.0% y-o-y to $236.6 million. This was aided by the efficient coordination of components availability, execution and delivery of customer orders at its manufacturing facilities in Dongguan and Johor,” says Aztech Global in a July 25 press release.
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Aztech Global’s order book was $816.0 million as at June 30, and the group has since received additional orders of $11.0 million as at July 25, thus bringing its total order book secured to date to $827.0 million, of which $450.0 million is planned for completion in FY2022.
The group’s cash generated from operations was $84.4 million in 1HFY2022, more than doubling y-o-y from the $41.5 million reported this time last year. “The increase was mainly attributable to the higher ebitda as well as the increase in the working capital as compared to 1HFY2021,” says Aztech.
As at June 30, the group reported a net cash of $232.1 million.
Current assets stood at $584.9 million as at June 30, up from $491.6 million the year prior. Current liabilities, meanwhile, stood at $308.9 million as at June 30, deepening from $220.4 million the year prior.
Shares in Aztech Global closed flat at 79.5 cents on July 25.
