Frencken sees earnings improve 10.7% y-o-y to $14.8 mil in 3QFY2021

PATMI margin for the 3QFY2021 fell 0.6 percentage points to 7.5%.

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For the 9MFY2021, earnings surged 43.7% y-o-y to $46.1 million.

Revenue improved 24.8% y-o-y during the nine-month period to $571.8 million.

PATMI margin grew 1.1 percentage points to 8.1% due to the group’s revenue growth, which resulted in overhead costs being spread over a larger revenue base.

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As at end-September, Frencken’s cash and cash equivalents stood at $169.2 million.

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In its outlook statement, the group expects its overall revenue in the 2HFY2021 to remain stable, compared to that of 1HFY2021.

Shares in Frencken closed 13 cents higher or 5.96% up at $2.31 on Nov 11.