NanoFilm Technologies FY2020 net profit rises 61%

Singapore

NANOFILM Technologies posted a 61.1 per cent rise in net profit to S$57.6 million for the year ended Dec 31, 2020, in its first financial report since listing on the Singapore Exchange mainboard in Oct 2020.

The improvement outpaced the nanotechnology solutions provider's 52.8 per cent revenue growth to S$218.3 million from S$142.9 million in FY2019. Turnover rose on the back of increased revenue from its advanced materials and nanofabrication business units, and was partially offset by a 10 per cent decrease in revenue from its industrial equipment business unit.