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Jubilee Industries Holdings' earnings surge over four times to $849,000 in 1HFY22

Felicia Tan
Felicia Tan • 2 min read
Jubilee Industries Holdings' earnings surge over four times to $849,000 in 1HFY22
The group says it expects to face continued headwinds including rising logistics and raw material costs.
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Catalist-listed Jubilee Industries Holdings has reported earnings of $849,000 for the 1HFY2022 ended September, 4.14 times higher than earnings of $205,000 in the same period the year before.

Profit before income tax more than quintupled to $1.2 million from $212,000 in the 1HFY2021.


See: It's onward and upward for Jubilee Industries from here, says CGS-CIMB

The higher earnings and profit before tax were due to the higher revenue for the 1HFY2022, which doubled to $115.3 million.

The group’s revenue, in turn, was due to a broad-based increase in revenue for the group’s mechanical business and electronics business units (MBU and EBU).

During the half-year period, Jubilee Industries’ MBU saw revenue improve by $3.8 million to $15.3 million on higher sales of consumer and construction products.

See also: OUE expected to record a loss for 1HFY2024 mainly due to estimated losses from 25.2%-owned investee company

The group’s EBU revenue more than doubled to $100.0 million amid an improved business environment and increased global demand for semiconductors.

“Despite signs of recovery from the initial impact of Covid-19, we expect the global business landscape to remain challenging due to persistent social and economic uncertainties associated with Covid-19. We expect to face continued headwinds including rising logistics and raw material costs, as well as continuous pricing pressures from customers,” says Dato’ Terence Tea, Jubilee’s executive chairman and CEO.

For more stories about where the money flows, click here for our Capital section

See also: Qian Hu records a net profit of $251,000 for 1HFY2024 ended June, up 742.2% y-o-y

“Nonetheless, the group will continue to work on initiatives to better manage cost and operational efficiency with a focus on products with longer life cycles and higher growth potential,” he adds.

Shares in Jubilee Industries closed flat at 5.5 cents on Nov 11.

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