Revenue remained relatively flat at $742.9 million for the FY2021, 1% lower y-o-y. However, gross margins improved from 28.8% in FY2020 to 29.2% in FY2021, primarily driven by a reduction in salaries and employee benefits, selling and promotion expenses, and rental expenses.
The Hour Glass has reported earnings of $82.5 million for the FY2021 ended March, representing 8% y-o-y growth from $77.4 million previously, on the back of a stronger second half of the year.
Earnings per share (EPS) for the period came in at 11.71 cents, up 9% y-o-y.
