Broadway Industrial Group's net profit surges in Q1

Broadway Industrial Group on Wednesday posted a net profit of S$1.1 million for its first quarter ended March 31, 2015 - more than five times its earnings of S$207,000 a year ago.

This was due to new revenue from its components division's entry into the mobile segment, it said.

The group, which makes precision-machined components, also reported a 10.1 per cent increase in revenue to S$168.2 million. This was due to higher revenue from its components division.

The group said the "significant turnaround in performance year-on-year" was due to management's focus on operational efficiency and productivity, which yielded positive results on its operating gross margins and profits.