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Nam Lee reports lower earnings despite higher revenue as costs surged

The Edge Singapore
The Edge Singapore • 2 min read
Nam Lee reports lower earnings despite higher revenue as costs surged
The company is keeping its full year dividend at 2 cents per share
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Nam Lee Pressed Metal Industries has reported higher revenue of $117.2 million for 2HFY2022 ended Sept, versus $104.2 million in the year earlier period.

However, because of higher material and labour costs, the company's earnings dropped from $7.76 million to $336,000 instead.

For the full year, the company's earnings dropped by just over a third to $10.16 million. Revenue was up 15.6% y-o-y to $229.2 million.

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