Grand Venture Technology has reported revenue of $116.3 million for FY2021 ended Dec 2021, up 89.3% from the preceding FY2020.
However, thanks to better economies of scale, the manufacturer was able to eke out better margins.
As such, earnings for the year was up 236.6% y-o-y to $17.6 million, from just $5.6 million reported for FY2020.
The company plans to pay a final dividend of 0.5 cents per share, which, together with the interim dividend of 0.5 cents paid out in September 2021, will bring FY2021’s total payout to 1 cent.
The company enjoyed relatively even growth across its various major segments.
“We have demonstrated our ability to grow capabilities, capacity and customer base in the course of the year, and announced two strategic acquisitions that brings us closer to our vision of becoming a leading global precision manufacturing solutions provider,” says Ricky Lee, the company’s executive chairman.
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Going forward, GVT expects demand from its semiconductor customers to remain “robust”. It also sees stronger demand for life sciences analytical and diagnostics equipment. It expects better prospects from customers in industrial automation equipment.
Via one of its recently acquired companies, Suzhou J-Dragon Tech, GVT eyes a growing piece of the market in China.
“This is the start of a new chapter for us. We are well-positioned for our next stage of growth,” says Lee.
GVT shares closed Feb 15 at $1.06, up 1.92% for the day, and down 10.17% year to date.
