Nico Steel Holdings, which makes metal parts for the consumer electronics industry, has reported a turn around.

For the 1HFY21 ended Aug 31, it made earnings of US$260,000, reversing from losses of US$283,000 incurred in the year-earlier period. The company’s revenue in the same period increased by 15.5% y-o-y to US$8.2 million.

The company was able to eke out further improvement in its margins. For 1H21, its gross profit margin was 23.3%, up 0.6 percentage points from 22.7% from 1H20. For the whole of FY20, its gross profit margin was 20.1%.

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