PNE Industries (SGX:BDA) said higher sales volumes drove its revenue and gross profit margin growth in H2 2024, with home appliances contributing the majority of revenue and targeting higher- to mid-range consumers, according to its responses to queries from shareholders filed with the Singapore Exchange on Thursday.
The group aims to diversify its customer base to reduce reliance on key clients, following a decline in major customer contributions since FY21.
Costs remained balanced in FY24 due to a varied product mix, with no single raw material significantly impacting expenses.
PNE said its assets grew by $9.7 million in 2024 due to increased receivables and has no immediate plans for large capital expenditures or divestment of underperforming subsidiaries.
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