Tai Sin Electric has reported a 129.3% y-o-y increase in earnings for the 1HFY2025 ended Dec 31, 2024 of $15.9 million.
Earnings per share for the group in the reporting period came in at 3.45 cents, up from the 1.50 cents in the same period a year ago.
The mainboard listed cable and wire manufacturing company saw a 20.10% y-o-y growth in revenue for the reporting period of $235.1 million, and gross profit grew 27.95% y-o-y to $41.3 million.
The group says that revenue increase was across all of the segments except for its switchboard segment.
The increase in the cable and wire segment was due to growth in public sector construction activities and data center developments in Singapore. In Malaysia and Vietnam, revenue improvements were due to exports to the Philippines and Cambodia.
The electrical material distribution segment saw an increase from the building and infrastructure (BIF) cluster, chemical, oil & gas (COG) cluster, marine (MAR) cluster and electronic
(ELN) cluster supported by the growth of these clusters’ activities in Singapore and Malaysia.
Revenue from the test & inspection (T&I) segment increased from heat treatment and non-destructive testing activities, as more jobs were carried out for both the ongoing and new projects in Indonesia.
Meanwhile, revenue from the switchboard segment declined due to less projects in Brunei.
The group’s other operating income increased from $2.795 million in 1HFY2024 to $3.328 million in 1HFY2025 due to a $2.199 million gain on the disposal of a Cambodian subsidiary under the T&I segment.
See also: LHN Group adds 45 new keys and 29 new facilities management contracts in 1QFY2025 business update
Cash and cash equivalents increased to $36.2 million, while the group's net cash from operating activities came in at $7.3 million for the reporting period.
The group has announced an interim one-tier tax exempt dividend of 0.75 cents per ordinary share, paid out on March 12, 2025.
Shares in Tai Sin Electric closed 1 cent lower or 2.469% down at 39.5 cents on Feb 14.
