SINGAPORE (Sept 13): Shares in precision manufacturer AEM Holdings are trading higher on Friday morning.
As at 10.21am, AEM shares are up 2 cents at $1.17 from Thursday close of $1.15 with about 4.6 million shares traded.
The hike came on the back of AEM’s announcement in a filing on Thursday night it was revising upwards its revenue range to between $285 million and $305 million for FY19 ended Dec.
AEM made the upward revision after receiving sales orders worth $280 million for delivery in FY19 as of Thursday.
The company has also guided for capex to remain between $4 million and $7 million.
For the 2Q19 ended June, AEM reported earnings of $15.7 million, or 5.81 cents per share, up 65.4% from $9.5 million, or 3.49 cents per share, a year ago.
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The company also declared an interim cash dividend of 2 cents per share, making up 24.2% of 1H19 earnings, up from 1.5 cents per share a year ago.
