Jubilee Industries on track for strong growth recovery in FY19: CGS-CIMB

SINGAPORE (Nov 27): Jubilee Industries posted 1H19 earnings of $2.57 million, more than triple that of $0.81 million in 1H18, mainly due to higher revenue and higher currency translation differences.

Revenue for the half year ended September came in at $88.4 million, 1.1% higher than $87.5 million in the previous year, mainly due to higher contribution from the group’s Mechanical Business Unit (MBU), but was partially offset by lower contribution from its Electronic Business Unit (EBU).

As cost of sales dropped 1.1% y-o-y to $81.0 million, gross profit for 1H19 came in at $7.42 million, 32.9% higher than $5.58 million a year ago.

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