Frencken Group Limited’s PATMI rises 38% YoY to $58.7m

Excluding a loss of $6.2m in FY2020, PATMI would’ve increased 20.4% in FY21.

Frencken Group Limited's net profit attributable to equity holders or profit after taxation and minority interests (PATMI) rose 38% year-on-year (YoY) to $58.7m in the financial year (FY) 2021.

Excluding the loss of $6.2m  in FY 2020, PATMI for FY 2021 would have increased 20.4%.

“This was in respect of the impairment loss of deferred development costs in Frencken Europe B.V., an operating unit within Mechatronics division,” the group explained.

In FY 2021, the Singapore Exchange-listed technology solutions company also saw its full-year group revenue rise by 23.6% YoY to $767.1m due to higher sales at both its Mechatronics and Integrated Manufacturing Services (IMS) divisions.

Revenue in the mechatronics division increased 26.6% to $659.0m in FY 2021 on the back of double-digit sales growth
of the semiconductor (+55.6% YoY), medical (+18.7%), and analytical and life sciences (+27.2% YoY) segments.

Meanwhile, the group’s IMS division saw its revenue increase by 6.8% YoY to $107.8m on the back of higher sales of its automotive (+6.6% YoY), and consumer and industrial electronics (+16/4% YoY) segments.