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AEM Holdings' Q1 earnings double on higher margins, better sales

AEM Holdings reported a 98.6 per cent increase in its first-quarter earnings to S$8.2 million from the year-ago period, as higher sales and stronger profit margins helped to lift the bottom line.

For the three months ended March 31, 2018, the global provider of equipment systems solutions and manufacturing services recorded earnings per share (EPS) of 12.23 Singapore cents.

This was higher than the EPS of 9.54 Singapore cents for Q1 2017.

The group's revenue for Q1 2018 increased 55.9 per cent to S$65.7 million on more orders for its test handlers and kits.

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Its net profit margin was up to 12.5 per cent for Q1 2018 from 9.8 per cent for Q1 2017 mainly due to higher sales, product margin and improvement in cost efficiency.

Loke Wai San, AEM's executive chairman, said of the group's growth plans: "We have added significantly to our engineering talent pool over the last 12 months... On our acquisitions, we are in the process of integration and the various teams are already working on collaborative projects and joint marketing efforts."

AEM closed 13 Singapore cents lower at S$6.60 on Tuesday.