CSE Global has reported a 142.8% y-o-y earnings jump to $11 million for its 1HFY2023 ended June 30. Revenue in the same period was up 33.2% y-o-y to $349.3 million, thanks partly to contributions from newly acquired businesses.
The company plans to pay an interim dividend of 1.25 cents.
As at June 30, it has built up an order book of $521.8 million.
Lim Boon Kheng, the company's group managing director, believes that with this robust order book, coupled with a positive turnaround in the financial performance of the business in the
Americas region, CSE is well positioned to achieve a strong financial performance in 2023.
“Our diversification strategy to invest in and acquire communications businesses has contributed to the better financial performance for the group," says Lim.
"Looking ahead, we will continue to enhance our engineering capabilities and technology solutions such as automation, electrification and critical communications, to seize and capitalize on emerging market prospects driven by the growing megatrends of urbanization, electrification, and decarbonization,” he adds.
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CSE Global shares closed at 47 cents on Aug 10, up 1.09% for the day, and up 36.8% year to date.
