Aztech Global Q1 net profit up 5% on IoT, data comm products demand

MAINBOARD-LISTED Aztech Global posted a 5.3 per cent rise in net profit to S$13.9 million year on year for the three months ended Mar 31.

In its business update on Monday (Apr 18), revenue for the design and manufacturing services provider increased 10.4 per cent to S$128 million year on year. The group attributed its performance to strength in Internet-of-Things (IoT) devices and data communication products demand.

Notably, the company said that revenue from IoT devices and data communication products rose 16.4 per cent to S$123.7 million year on year, accounting for 96.6 per cent of the group's total revenue.