AEM raises FY17 profit estimates for nine-month, full-year

ELECTRONICS manufacturer AEM Holdings has raised its profit guidance for the first nine months of 2017 and for the full year, citing higher sales and margins.

The company now expects operating pre-tax profit of between S$25.0 million and S$27.0 million for the nine months ended September, up from the previous guidance of S$17.5 million given in April.

For the full 2017, operating pre-tax profit is now expected to be at least S$32.0 million, more than the S$24.0 million estimate given in August.

AEM attributed the higher guidance to higher sales, better profit margin and better operational efficiency as a result of strong customer demand, together with positive results from the company's upgrading of operational productivity.

The company will release more financial performance details when it announces its Q3 2017 results.