XMH Holdings' profit surges by 95% to $12.6m in H1 2024

Its revenue stood at approximately $66.9m, reflecting a 5.8% decline.

XMH Holdings Ltd.’s profit after tax surged by 94.9% in the first half of 2024, rising to $12.6m from $6.4m, its bourse filing showed.

The group’s revenue for the period stood at approximately $66.9m, reflecting a 5.8% decline from the previous year’s $71m. This is due to a drop in the project segment, which recorded $19.3m compared to $24.7m in 2023.

The group noted that the stage of completion was lower due to the later commencement of production in the first half of 2024 compared to the same period last year. However, this decline was partially offset by increased revenue in the distribution and after-sales segments.

The distribution segment saw a slight 1% increase, adding $400,000 to reach $39.8m. The after-sales segment posted a 12.3% increase, bringing the total to $7.7m thanks to the group's consistent follow-up efforts with customers.

XMH Holdings did not declare or recommend any dividends for the current reporting financial period.

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