Aztech Global posts 18.1% net profit for 2020

The electronics giant did well financially in 2020.

Electronics giant Aztech Global announced an 18.1% increase in its net profits in 2020.

The $55.7m net profit was driven by higher production and sales of internet of things and data communication products.

"With the strong order book to date and the measures that we have put in place to mitigate the impact of the COVID-19 pandemic, we are cautiously optimistic of our business prospects for financial year 2021 as we continue with our business to be the key technology enabler for the connected world of tomorrow," said Aztech Global chairperson and CEO Michael Mun in a bourse disclosure.

The company plans to expand its product portfolio to address the growing demand in LED lighting, Internet of Things, and data communication industries.

Trade of Aztech stocks grew slightly on 22 March by $0.03, closing at $1.28 per unit.