CSE Global’s profit up 39.6% to $9.4m in Q3

Revenue jumped 15.2% ro $112.3m.

CSE Global yesterday revealed that its core profit from continuing operations jumped 39.6% YoY to $9.4m, on back of 15.2% year-on-year revenue growth to $112.3m.

Higher revenue came on back of higher sales achieved from Asia Pacific and the Americas regions, but partially offset by weakness in its Europe/Middle East/Africa market.

According to OCBC, CSE’s Q3 profit forms 72.8% of its FY14 projections.

“New orders received for 3Q14 and 9M14 increased 29.1% and 6.3% YoY to S$119.3m and S$288.1m, respectively, while outstanding orders at the end of the 3Q14 stood at S$201.7m (end 2Q14: S$194.7m). Looking ahead, CSE remains cautiously optimistic that its FY14 performance would be better than FY13,” noted OCBC.