Sales from the Semiconductor segment remained the largest revenue contributor at 50.2%. Revenue from the segment rose 31.6% y-o-y to $34.3 million for 1HFY2024 driven by progressive improvement in orders from its key back-end customers, including the shipment of testing equipment for high-bandwidth memory, a critical component in AI processors. Revenue from the life sciences segment was up by 4.3% to $10.2 million for 1HFY2024 on the back of expanded wallet shares with key customers.
Revenue from the EAMO segment surged by 32.2% or $5.8 million to $23.8 million. The group also saw organic growth from aerospace, medical, andothers industries, offsetting the soft demand from the Electronics segment.
As of end June, the group had total borrowings of $67.6 million, up from $49.0 million as of December 31 2023. The increase in borrowings was partially due to the debt raised for the ACP acquisition. GVT’s debt-to-equity ratio stood at 0.55 times as at end-June.
