Aztech Global total income crashes 25.1% in 2024

The group’s H2 2024 income saw a drop of 60.5%.

Aztech Global Ltd reported a total comprehensive income attributable to owners of the parent of $71.4m in 2024, a 25.1% drop from $95.3m from the year before.

In the second half of 2024, the group reported a total comprehensive income of $22.8m, a 60.5% decrease from $57.8m from the previous year.

Revenue for FY2024 declined 30.6% year-on-year (YoY) to $621.6m due to lower sales volume of IoT devices and data-communication products attributable to reduced demand from customers in the latter part of 2024.

Net profit fefll 25.1% to $70.5m. The group said the impact of lower revenue and higher depreciation was partly offset by higher interest income, net fair value gain on foreign exchange contracts and lower tax expense with a one-time deferred tax provision of $7.1m in the prior year. Net profit margin remained stable at 11.3%.

The Board has proposed a dividend of 10 cents per share, comprising a final ordinary dividend of 3 cents per share totalling $23.2m and a special dividend of 7 cents per share totalling $54m, subject to shareholder approval.

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