Aluminium and alloy supplier Soon Lian Holdings guides for consolidated net profit for FY2024
The growth in revenue and profit is driven by increase in demand for AI applications, high-performance computing and inventory replenishment.
Soon Lian Holdings is guiding for a consolidated net profit for the 2HFY2024 and FY2024 ended Dec 31, 2024, compared to a consolidated net loss in the corresponding period a year.
This expected profit growth is due to the increase in revenue and growth profit. The group says it has seen strong demand for its products in the precision engineering segment from the start of 2024.
This is driven by the increasing demand for AI applications, high-performance computing and inventory replenishment.
Soon Lian sources aluminium alloy products and cuts them to sizes for use in precision engineering, marine, and other industries.
Shares in Soon Lian closed flat at 19.5 cents on Feb 18.
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