XMH Holdings' profits up 22.7% to $2.66m

Despite 2.4% dip in revenue.

According to OSK, XMH Holdings' Q1 profits jumped by 22.7%. 

Here's more:

Despite a 2.4% slide in revenue to $21.4m, the diesel enginer, propulsion and power generating solutions provider witness its net profits hike to $2.66m from $2.16m in its fiscal first quarter.

The management said that the dip was due to a marginal drop in sales from the group’s distribution business segment, which was offset by an increase in sales from its sales service business segment.

Recently too, XMH announced its acquisition of a diesel powered generator for $17.4m, which will allow XHM to gradually implement technical knowledge and capabilities of Mech-Power Generator’s (MPG) into XHM.