AEM Holdings’ share price up 3.48% after firm raises its revenue guidance

AEM’s shares rose 3.48% or S$0.04, to S$1.19 on Friday in response to the revised upward guidance. Year-to-date, the group’s shares have risen by 43.4%, from S$0.83 on 2 January 2019.

Precision manufacturer AEM Holdings is revising its expected revenue for the financial year higher to between S$285 million and S$305 million after it said it received sales orders worth S$280 million for the financial year thus far.

Capital expenditure remains at S$4 million to S$7 million, the firm said.

AEM’s shares rose 3.48% or S$0.04, to S$1.19 on Friday in response to the revised upward guidance. Year-to-date, the group’s shares have risen by 43.4%, from S$0.83 on January 2, 2019.

For the second quarter ended June 30, AEM Holdings reported a 65.4% spike in net profit from S$9.5 million a year ago to S$15.7 million. Revenue climbed 34.8% to S$97.9 million, due mainly to its equipment systems solutions business.

Earnings per share for the second quarter was at 5.81 Singapore cents, up from 3.49 Singapore cents in the preceding year.

The group declared an interim cash dividend of two Singapore cents per share, an increase from 1.5 Singapore cents a year ago.

In July, the group said it received sales orders worth S$255 million for delivery in an update and also revised its revenue range higher to be between S$265 million and S$280 million, with capital expenditure kept at S$4 million to S$7 million.

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