Aztech Global net profit grows 34.2% for 9M 2022, declares interim dividend of S$0.03 per share

MAINBOARD-listed Aztech Global : 8AZ 0%’s nine-month net profit rose 34.2 per cent year on year to S$63.7 million, following strong revenue contributions from the group’s Internet of Things (IoT) devices and data communication products.

Earnings per share (EPS) for the January to September 2022 period stood at S$0.0825, up from S$0.0646 previously. 

Revenue grew 55.4 per cent to S$607 million, up from S$390.7 million previously. Revenue growth from IoT devices and data communication products were aided by the efficient coordination of components availability, execution and delivery of customer orders at the group’s manufacturing facilities in Dongguan and Johor, the tech products manufacturer noted in a bourse filing on Thursday (Nov 3).

The group’s order book “remains healthy” at S$783.3 million as at Sep 30, 2022. It has since received additional orders of S$37.2 million as of Nov 3, 2022 – bringing its total order book to S$820.5 million, of which $210.0 million is planned for completion in FY 2022, the group said.

The board of the company declared an interim dividend of S$0.03 per share for 9M 2022, amounting to S$23.2 million or 36.4 per cent payout from the group’s earnings for 9M 2022.

The interim dividend is to reward shareholders for their confidence in Aztech’s growth strategy, said the group’s chairman and chief executive officer Michael Mun.

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL

The group said that increasing recessionary risk, softening demand for consumer electronics products, inflationary cost pressures, and susceptibility of the electronics supply chain to Covid-19 restrictions are expected to weigh on the operating landscape of the electronics and semiconductor industries.

“We will continue to stay vigilant and nimble to manage the myriad of headwinds ahead,” Mun noted.

Shares of the company fell 0.61 per cent or S$0.005 to close at S$0.81 on Thursday (Nov 3), before the announcement was made.