Continue reading this on our app for a better experience

Open in App
Home Capital Results

Memiontec’s earnings up 26.8% y-o-y to $3.2 mil for FY2023

Khairani Afifi Noordin
Khairani Afifi Noordin • 1 min read
Memiontec’s earnings up 26.8% y-o-y to $3.2 mil for FY2023
Revenue increased by 56.2% to $66.9 million, driven by increase in revenue contributions from segments such as TSEPC. Photo: Memiontec
Font Resizer
Share to Whatsapp
Share to Facebook
Share to LinkedIn
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Memiontec Holdings has reported earnings up $3.2 million for its FY2023, up 26.8% y-o-y.

Revenue increased by 56.2% to $66.9 million, driven by increase in revenue contributions from segments such as total solutions with engineering, procurement and construction.

Gross profit grew 7.6% y-oy to $9.29 million, while gross profit margin stood at 13.9%. 

As at Dec 31, 2023, cash and cash equivalents stood at $12.49 mil.

The company is proposing a final dividend of 0.196 cents per share in FY2023.

With rising demand for water and wastewater solutions, Memiontec continues to seek opportunities to grow in the region. Notably, it is looking to enlarge the pipeline of its BOOT/TOOT projects in the region with the intention of expanding our recurring income base, says executive director and CEO Tay Kiat Seng.

See also: Aztech Global posts net profit of $15.9 mil for 1QFY2024, up 18.7% y-o-y

“In Singapore, it is anticipated that tenders of larger scale public tenders relating to membrane processes and mechanical, electrical, instrument, control and automation works for water reclamation plants and other water works will be undertaken by PUB. The group will participate in such tender exercises, keeping in mind the competitive environment,” he adds.

Shares in Memiontec closed flat on Feb 29 at 10.1 cents.

 

×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
© 2024 The Edge Publishing Pte Ltd. All rights reserved.