NAS HOLDINGS (08080) has released its annual results for the period ending March 31, 2024, showing a significant financial improvement.

The company reported revenue of approximately HK$1.687 billion, representing a year-on-year increase of 22.66%.

Notably, the group achieved a net profit of HK$10.143 million, marking a turnaround from a loss in the previous comparable period.

Earnings per share for the year stood at 2.2 Hong Kong cents.

Revenue Growth Drivers

The increase in revenue was primarily attributed to growth within the group's high-tech product distribution and services division.

This growth was driven by a recovery in demand across several sectors, including smartphones, automotive electronics, drones, and home appliances, which prompted major electronics equipment manufacturers to expand their procurement activities.

Furthermore, the model update for the agency-represented Fuji machines stimulated purchases of new equipment, leading to an increase in both direct and indirect order volumes.