Nanofilm Technologies (SGX: MZH)
Nanofilm Technologies reported an encouraging business update for its 2024 first quarter (1Q 2024). Revenue came in at S$39 million for the group, up 19% year on year, driven principally by the consumer business. Advanced Materials Business Unit, or AMBU, saw revenue jump 41% year on year to S$34.7 million, making up 89% of Nanofilm Technologies’ overall revenue for 1Q 2024. Within AMBU, the 3C sector, represented by Computer, Communication and Consumer, saw a 51% year-on-year revenue jump while the Automotive segment recorded a 24% year on year revenue increase. Nanofilm’s onboarding of a new customer within the Smartphone sub-segment helped to contribute significantly to revenue growth within AMBU. The group’s recently completed acquisition of AxynTeC also contributed to this growth by demonstrating a 21% year on year revenue jump. The Nanofabrication Business Unit, which contributed 5% of group revenue, saw revenue remain flat year on year in line with its projects’ current production status....Welcome to this week’s edition of top stock market highlights.
