Nanofilm eyes growth in renewables, micro-lens array as it grows product portfolio

MAINBOARD-LISTED Nanofilm Technologies MZH is looking to leverage its expanded capacity to take advantage of growth trends in renewable energy and consumer technology as it applies its expertise to more segments of the market.

In an interview with The Business Times on Thursday (Feb 24), the tech manufacturer's chief financial officer Kay Lim said that Nanofilm is now poised for growth with increased capacity from the company's Shanghai Plant 2, which is about twice the size of Plant 1. Plant 2 saw the addition of 59 new coating equipment to its existing 176 equipment in FY2021.

The company recorded net profit growth of 8 per cent year on year in FY2021 to S$62.2 million. Profit before tax fell 0.6 per cent to S$69.8 million, although the company noted that it stood at S$72.7 million before accounting for the non-recurring expenditure to equip Plant 2.