AEM Holdings gets $280m in sales orders, raises revenue guidance for FY2019

SINGAPORE - Equipment manufacturer AEM Holdings has received sales orders worth $280 million for delivery in fiscal year 2019 as of Sept 12. As such, the group is revising its expected revenue range to between $285 million and $305 million for FY2019.

Capex (capital expenditure) range remains at $4 million to $7 million, the mainboard-listed company said in a financial guidance released on Thursday night (Sept 12).

The counter closed at $1.15 on Thursday, up 0.9 per cent, or one cent before the release of this announcement.

Last month, AEM Holdings posted a 65.4 per cent jump in net profit to $15.7 million for the second quarter ended June 30, up from $9.5 million a year ago. This translated to earnings per share of 5.81 cents for the quarter from 3.49 cents in the preceding year.

Revenue surged 34.8 per cent to $97.9 million from $72.7 million for the corresponding period last year, thanks mainly to its equipment systems solutions business.

An interim cash dividend of two cents per share was declared, up from 1.5 cents per share a year ago. The dividend which represents a payout of 24.2 per cent on the first-half net profit, will be paid out today.