Aztech Group posts jump in Q1 net profit as revenue nearly doubles

SINGAPORE - Electronics firm Aztech Group has increased its first-quarter earnings more than four times due to higher revenue and more efficient operations.

Net profit in the first three months of the year climbed 423.4 per cent to $1.68 million, the group said on Wednesday.

This came on the back of a near-doubling in revenue to $85.6 million over the same period, as Aztech executed two contracts for the supply of infrastructure materials and sold more data communication products.

Earnings per share also jumped to 35 cents in the first quarter from seven cents last year.

Group net asset value per share inched up to 17.73 cents as at Mar 31, from 17.14 cents as at Dec 31 last year.

Aztech said it expects business activity in the April to June quarter to increase, partly due to orders from existing customers for data communication products and LED lighting.

But it also anticipates cost pressures and currency volatility to continue, it added.