AEM's Q1 profit surges to S$4.1m

MAINBOARD-LISTED AEM Holdings saw a 17-fold jump in its net profit from a year ago to S$4.1 million in the first quarter of 2017, the company said in a Singapore Exchange filing on Tuesday.

For the three months ended March 31, 2017, its revenue jumped 3.5 times - or 246.3 per cent - to S$42.1 million from a year ago, said the global provider of equipment systems solutions and manufacturing services.

AEM's next generation semiconductor handling platform, which was adopted by its key customer in late 2016, has yielded increasing orders since Q4 2016, the group said.

Net asset value per share of the group stood at 79.7 Singapore cents, up from 70.7 Singapore cents in the previous quarter.

Earnings per share on a fully diluted basis rose to 9.47 Singapore cents from 0.8 Singapore cents in the same period a year ago.