Fu Yu returns to profit with $2.4m Q3 gain

Shareholders’ equity stood at $131.9m, down from $136.2m at the end of 2024.

Fu Yu Corporation Limited reported a net profit of $2.4m for the third quarter of 2025, reversing a loss of $2.6m in the same period last year.

The return to profitability was driven by stronger revenue and margin improvements in its core manufacturing business.

Manufacturing gross profit rose 61.1% YoY to $5.8m in 3Q2025, with gross margin expanding to 18.7% from 11.7%. On a year-to-date basis, gross profit grew 19.8% to $12.7m, with gross margin at 13.8%, up from 12.4% a year ago.

Revenue from manufacturing increased 2.0% to $31.2m in the third quarter and 7.1% to $91.7m for the nine months.

Despite the improved operational performance, Fu Yu posted a net loss of $7.0m for the nine months. The result was impacted by several one-off items, including $2.3m in professional fees, $3.0m related to the closure of the Zhuhai facility, a $600,000 bad-debt provision, and $2.2m in foreign exchange losses.

Excluding forex effects and one-off professional fees, EBITDA was $4.0m in 3Q2025, up from $3.0m a year earlier. For 9M2025, EBITDA stood at $6.0m, slightly below the $6.4m recorded in 9M2024.

Singapore contributed 47.8% of manufacturing sales in 9M2025, with revenue rising 31.5% to $43.8m. Malaysia and China accounted for 26.2% and 26.0% of the total, respectively.

By segment, medical-related sales rose to $29.8m, comprising 32.5% of manufacturing revenue. The consumer segment contributed $41.8m.

However, demand remained soft in networking and communications, as well as in printing and imaging in China, and in automotive and power tools across Singapore and Malaysia.

As at 30 September, Fu Yu held net cash of $48.4m, equivalent to 6.4 cents per share. Shareholders’ equity stood at $131.9m, down from $136.2m at the end of 2024.