PNE Industries (BDA) H2 2024 earnings summary

Executive summary

• FY24 marked recovery and growth: revenue rose 14% to $61.0m and profit before tax more than doubled to $1.9m, with stronger contract manufacturing sales and improved FX gains.

• Priorities include productivity investment, lean manufacturing, customer diversification and value-added services to support resilience and sustainable growth.

Financial highlights

• Revenue was $60.975m versus $53.528m; gross profit increased to $11.341m from $10.641m.

• Profit before tax was $1.863m versus $0.765m; net profit was $1.284m versus $0.753m.

• Other operating income included a $496k net FX gain; income tax expense rose to $579k from $12k.

• Operating cash flow was $949k versus $1.184m; cash and cash equivalents ended the year at $24.802m versus $28.048m.

Outlook and guidance

• No quantified FY25 guidance was given; planned actions focus on advanced production technology, lower labour costs, process efficiency and deeper customer relationships.

• Proposed FY24 final dividend of 2 cents per share, alongside the 1-cent interim dividend, brings the annual payout to 3 cents per share, unchanged from FY23.