Nanofilm H1 net profit up 5% to S$18.8 million; board proposes S$0.011 interim dividend
எஸ். வெங்கடேஷ்வரன்
MAINBOARD-LISTED Nanofilm Technologies posted a 5.1 per cent year-on-year increase in net profit to S$18.8 million from S$17.9 million previously, according to its results filing on Thursday (Aug 11).
Revenue for the group rose 15.2 per cent to S$111.3 million, up from S$96.6 million in the year-ago period.
Earnings per share stood at S$0.0286, up from S$0.0271 previously.
The group has proposed an interim dividend of S$0.011 per share after considering its well-capitalised balance sheet and cash-generating operations.
“The group’s strong financial position makes it uniquely positioned to select and expand its business in areas with attractive returns, including tie-ups in joint ventures or mergers and acquisitions, navigate the macroeconomic environment, and deliver continuing sustainable growth,” the filing noted.
In H1 2022, the group’s production capacity in Shanghai was hampered by a lack of labour and logistics flow and as a result, there was an estimated S$8 million revenue loss from these restrictions.
The nanotechnology solutions provider noted that despite the challenging operating environment caused by Shanghai’s Covid-19 lockdown, the group was still able to grow its revenue and profit, underscoring its unique deep-technologies reach in multiple growth avenues across vast industries and its strong business foundations put in place by management.
“We continue to focus our energies on our business unit-driven strategy that will fuel our growth for the longer term. Indeed, our strategy is delivering positive results, with deeper and wider application expansion of our nanotechnology solutions with existing and new customers across different industrial verticals,” said Gary Ho, Nanofilm’s chief executive officer.
The counter closed 2.4 per cent or S$0.05 higher at S$2.11 on Thursday, before the results announcement.
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