GP Industries (SGX:G20) expects a significant increase in profit for the first half of fiscal 2025, projecting earnings between SG$13.5 million and SG$15 million, compared with SG$8.9 million in the same period last year, according to a Friday filing on the Singapore Exchange.
The growth is driven by stronger demand for its primary batteries and KEF brand products, compensating for a drop in rechargeable battery business following the January distribution of shares in GP Energy Tech.
The company attributed the increase to higher gross margins, better product mix, and operational efficiencies from restructuring its manufacturing in China and Southeast Asia.
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