Cost of sales increased significantly by 99.6% y-o-y to $55.2 million in 2HFY2023. This was in line with the significant increase in revenue.
XMH Holdings (SGX:BQF
) has reported earnings of $3.14 million for its 2HFY2023 ended April, reversing from a loss incurred in the previous corresponding period.
Revenue in 2HFY2023 amounted to approximately $70.7 million, up 83.1% y-o-y on the back of increased demand for engines to build tugboats in Indonesia as well as income recognition based on performance obligation for major contracts during the period.
