Revenue for the quarter surged around 5.6 times to $29.5 million from the previous period’s $5.2 million. The y-o-y growth was attributable to the normalisation of operating activity after the lifting of the judicial management order placed on the company’s wholly-owned subsidiary, SMC Industrial in August 2022. The transition into the lithium battery recycling business also contributed to the higher revenue, says the company.
After reversing into profitability during the FY2022 ended Sept 30, 2022, Sen Yue Holdings (SGX:5BS
) is reporting another surge in earnings for the 1QFY2023 ended Dec 31, 2022.
During the quarter, the company reported a profit of $12.4 million, up from the $1.1 million loss in the 1QFY2022.
