CFM Holdings 5EB has reported earnings of $9.4 million for the 1HFY2023 ended Dec 31, 2022, 31.7 times higher than the earnings of $296,000 in the same period the year before.
The growth was due to the surge in other income, which stood at $8.4 million, up from the $320,000 in the same period the year before.
Other income surged mainly due to the disposal of non-current asset held for sale of $8.13 million. This was offset by a drop in rental income of $33,000 and a miscellaneous income of $40,000.
Revenue for the period grew by 14.6% y-o-y to $14.1 million due to a ramp up in orders from the group’s metal stamping segment. The increase in unit price to its customers and favourable exchange rate also led to the growth.
Gross profit grew by 36.9% y-o-y to $3.9 million mainly due to the higher revenue. Gross profit margin (GPM) grew by 4.46 percentage points y-o-y to 27.28% in 1HFY2023 as the metal stamping segment generated a higher margin.
Cash and cash equivalents for the period stood at $13.0 million.
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Earnings per share (EPS) stood at 4.66 cents on a diluted basis.
No dividend was declared.
Shares in CFM Holdings closed 0.4 cent higher or 4.04% up at 10.3 cents on Feb 14.
