Singapore precision engineering firm Armstrong Industrial sees double-digit profit growth this year and in the next five years, driven by increasing revenues from China and India.
Armstrong, which manufactures parts for the automotive industry, consumer electronics and data storage drives, sees a 15-18% compound annual growth rate (CAGR) for revenue and profit in the next five years, similar to pre-crisis levels, the firm’s deputy chief executive officer Steven Koh told Reuters.

 

“This year will definitely see better results in both top and bottom line, I am very confident. We will see at least double-digit growth this year,” Mr Koh said on Thursday.

 

“CAGR should be around 15-18% for the next five years.”