For the same period, AMBU saw an 11% y-o-y increase in revenue, which was driven by its computer, communications, and consumer electronics (3C) segment. The segment saw an 11% y-o-y increase to $37 million, while the group’s industrial and automotive segment within AMBU saw a 10% y-o-y increase to $12 million.
Meanwhile, NFBU saw an 8% y-o-y increase to $8 million, due to a higher allocation for the group’s micro-lens array project, which has since been adopted in smart wearables, resulting in increased demand and production.
The group’s gross profit also saw a 4% y-o-y increase, reversing the losses from 1HFY2024 and achieving profitability for 3QFY2024. The group’s profit margin for 3QFY2024 has since exceeded 40%, up from 30% in 1HFY2024 ended June.
According to the group, Nanofilm’s “strategic footprint, aligned with the China Plus One strategy, positions the company favorably for business growth both in China and globally”.
See also: Creative guides for ‘similar level of operating loss’ for 2HFY2025
They add that the group’s operations in India are undergoing qualification currently, with small-batch production expected to begin by end-4QFY2024 or 1QFY2025.
Moving forward, the group expects lower infrastructure-related capital expenditures for FY2024, due to additions of coating equipment to support the group’s expansion in Southern China, Europe, and Corporate Lab.
Shares in Nanofilm Technologies closed 0.5 cents lower, or down 0.6%, at 82.5 cents on Oct 28.
