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AEM Holdings' sales orders for FY2019 to-date hit S$174m

TEST-HANDLING machine supplier AEM Holdings on Thursday night said it has received sales orders worth S$174 million as at March 21 for delivery in fiscal year 2019. This is up from the S$140 million in sales orders previously announced in February. 

For the three months ended Dec 31, the group's fourth-quarter net profit plunged 54.8 per cent to S$4.4 million, as revenue slipped 33.4 per cent to S$39.3 million. 

This comes as revenue from its equipment systems business segment fell 33.5 per cent to S$38.2 million, due to a reduction in orders from its main customer, and revenue from its precision components business declined 27 per cent to S$1.1 million, due to a decrease in customer demand and utilisation of capacity for components manufacturing.

Earnings per share for the three-month period stood at 1.62 Singapore cents, after adjusting for a bonus issue. The group issued about 205 million bonus shares on June 4, 2018. 

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Shares in AEM Holdings closed flat at S$1.19 apiece on Thursday. 

For the full year, net profit was up 6.4 per cent to S$33.5 million, as revenue gained 18.4 per cent to S$262.3 million.