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Frencken Group profit soars 73% to $9M in 1Q24
Higher revenue drove the increase.
Frencken Group Limited’s profit attributable to equity holders soared 73.0% YoY to $9m in 1Q24, driven by higher revenue and gross profit margin.
The company’s gross profit margin in 1Q24 was 13.7%, up 1.4 percentage points.
Meanwhile, the company’s revenue rose 12.2% YoY to $193.6m in 1Q24, propelled by its Mechatronics, which reported a 14.4% YoY higher revenue of $170.1m.
Within the division, segments which reported improved revenues were semiconductor (+37.4% YoY to $79.5m), medical (+8.6% YoY to $32.7m), and analytical life sciences (+16.7% YoY to $46.6m).
The company’s other division, IMS, reported a lower revenue of $22.8m in 1Q24 amidst a 6.6% YoY revenue decline in its automotive segment.
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