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CSE Global reports higher revenue and new orders won for 1QFY2024

The Edge Singapore
The Edge Singapore  • 1 min read
CSE Global reports higher revenue and new orders won for 1QFY2024
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CSE Global has reported revenue of $197.5 million, up 23.9% y-o-y, in its 1QFY2024 update.

The key drivers, the company says, are from its so-called "electrification" segment, which recorded a jump of 37.1% y-o-y to $101.7 million.

In the three months ended March, order intake, or new orders won, increased by 16.7% y-o-y to $186.2 million. This brought its total order book to $719.3 million, up 49.8% y-o-y.

CSE Global's group managing director and CEO Lim Boon Kheng says the company is "off to a good start" for 2024.

"Growth remains our focus despite the market volatility, and the successful $24 million share placement has strengthened our balance sheet in preparation for future expansion. 

"Our two-pronged approach of leveraging our track record to grow our client base and completing acquisitions complementary to our communications and electrification business segments should put us in good stead," he adds.

See also: Cordlife posts net loss of $11.57 mil for 1QFY2024 due to refund fulfilment

CSE Global shares closed May 9 at 41 cents, down 1.2% for the day and down 6.82% year to date.

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