TECHNOLOGY solutions provider CSE Global reported a revenue of S$185.4 million for the third quarter ended September, up 31.4 per cent from S$141.1 million in the corresponding year-ago period.

In a business update on Thursday (Nov 9), the group attributed the better topline figures to strong growth in its electrification business segment in the Americas, as well as in the communications business segment, which saw contributions from recent acquisitions.

Its topline was also supported by broad-based growth in flow revenues across all geographical regions, CSE Global added.

Across business segments, the group’s automation, communications and electrification segments contributed 23.9 per cent, 29.7 per cent and 46.3 per cent, respectively.

CSE Global’s order intake – which refers to all orders received by the group during the specified period – for the quarter rose 82.9 per cent to S$301.6 million, up from S$210.6 million in the year-ago period.

Under this, order intake for its automation business segment grew 14 per cent year on year to S$48.7 million, supported by a multi-year maintenance contract awarded by the government.

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As at end-September, the group’s order book – which refers to the total outstanding orders it has received but not fulfilled – stood at S$638 million. This was 54.6 per cent higher than its order book value a year ago, which stood at S$412.8 million.

Amid the current global economic outlook and inflationary pressures “which continue to present uncertainties” in the group’s operating markets, Lim Boon Kheng, group managing director and chief executive officer of CSE Global, said: “Despite this, we expect existing and new customers to continue to support and award us with a steady flow of small greenfield and brownfield maintenance projects.”

With the receipt of two major contracts worth S$150.6 million announced last month, he noted that CSE Global is well-positioned to further strengthen its order book for the rest of 2023 and beyond.

Lim added that the group is anticipating more order opportunities in the infrastructure sector in the coming quarters and is on track to achieve a record S$1 billion in order wins for this year.

Shares of CSE Global closed flat at S$0.43 on Thursday, before the business update.