Revenue for the period, however, was up by 3.0% y-o-y to $14.5 million due to an increase orders from new and existing customers in the company’s metal stamping segment.
Gross profit grew by 15.0% y-o-y to $4.4 million mainly due to the higher revenue. Gross profit margin (GPM) also improved by 3.2 percentage points y-o-y to 30.5% in 1HFY2024.
As at Dec 31, 2023, cash and cash equivalents stood at $8.6 million.
Shares in CFM closed unchanged at 8.4 cents on Feb 1.
