Jubilee bounces back with $0.81m profit in 1HY2018

It’s back in the black after a $2.68m loss last period.

Jubilee Industries Holdings returns to profit of $0.81m in 1HY2018 after incurring a loss of $2.68m last financial year.

According to its financial statement, revenue grew 83.7% YoY to $87.48m for the six month period. This was led by contributions from precision injection moulding (PPIM) and design, fabrication and sale of precision injection molds (MDF) segments which increased 11.11% YoY to $4m.

Revenue from electronics components distribution segment also rose 89.77% YoY to $5.6m in the half year.

“We are pleased with the profitability and recovery of Jubilee over the past half year as our turnaround plans continue to bear fruits. Nonetheless, we are only at the beginning of this recovery plan. Jubilee shall continue to push for higher volume of business in both our electronic and mechanical segment,” said non-executive chairman Terence Tea.