PNE Industries' net profit rises to $1.09m in H2 2024

Earnings per share stood at 1.3 cents.

PNE Industries reported a slight increase in net profit to $1.09m in the second half, up 0.6% from $1.08m in the previous year, according to its bourse filing.

Revenue grew 10.9%, rising to $32m from $28.86m, with the contract manufacturing segment accounting for the largest revenue share at $28.25m. The trading and other segments followed with $3.75m and $9,000, respectively.

Gross profit increased by $100,000, but a less favourable product mix dampened the gross profit margin, reducing it to 19% from 20.9% in the same period last year, despite the $3.1m rise in sales.

Earnings per share remained steady at 1.3 cents.

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