Danielle Isaac
,
Singapore
Thanks to its production ramp-up and better operations.
Fortune smiles on Hi-P International as its profits rose by 24.9% YoY to $38.4m in Q3.
According to DBS Equity Research, this was driven by better production ramp-up and improvements to operational efficiency.
Revenue was up 6.2% YoY to $411.3m.
Gross profit margin rose by 2.4 ppt to 16.5% from 14.1% last year, driven by higher capacity utilisation, manufacturing yield improvement and better cost controls.
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