Aztech Global’s net profit up 8.7% YoY in H1 2024

Net profit for the period amounted to $46.7m.

Aztech Global reported a net profit of $46.7m, up 8.7% year-on-year (YoY) for H1 2024.

Revenue for the period fell 4% to $373.2m from $388.6m a year ago.

In addition, the board declared a cash dividend of $0.05 per share, totaling $38.6 million, or 83% of 1H 2024 net profits, exceeding Aztech’s 30% dividend target for FY2024.

The company has also started setting up plastic injection machines at its Pasir Gudang facility in Johor, Malaysia, with completion expected in Q3 2024 and mass production to begin in Q4 2024. This expansion aims to diversify its customer base.

As of 30 July, Aztech has secured an order book amounting to $304.4m with the majority scheduled for completion in FY2024.