Manufacturer Frencken Group has reported 2HFY2021 earnings of $27.4 million, up 14.9% y-o-y. Revenue in the same period was up 19.4% to $381.8 million.
For FY2021 ended Dec 31 2021, earnings grew by 38% to $58.7 million, on the back of a 23.6% increase in revenue to $767.1 million.
The company enjoyed broad-based growth across its various segments but the semiconductor business line shone with sales growing 55.6% in FY2021.
Frencken guides for the semiconductor segment to generate yet higher turnover for 1HFY2022 versus 2HFY2021.
In line with the better earnings, Frencken plans to pay a dividend of 4.13 cents per share, versus 3 cents per share paid for FY2020.
Overall, the company is expecting better sales for 1HFY2022 over 2HFY2021.
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“While many countries are reopening their economies, a resurgence in COVID-19 variants and infection rates continue to challenge a full-fledged recovery,” states Frencken in its earnings commentary.
“The group continues working to mitigate supply chain bottlenecks and COVID-19 related disruptions in its workforce
Going forward, Frencken will continue its long term strategy of strengthening its market position in the high technology industry, as well as focus on its goal of delivering sustainable and profitable growth,” the company adds.
Frencken shares closed Feb 24 at $1.60, down 3.03% for the day, and down 17.95% year to date.
