Fu Yu narrows loss to $1.9m as demand boosts revenue

In 9M23, it reported a $5.8m loss.

Fu Yu narrowed its net loss to $1.9m in 9M2024 on increased revenue and operating profits. In 9M23, it reported a $5.8m loss.

Revenue also grew in 9M, rising 55.2% YoY to $162m, driven by higher turnover in the manufacturing and supply chain solutions segments.

Revenue from its supply chain management arm, Fu Yu Supply Chain Solutions (FYSCS) more than tripled to $76.4m from $25m due to higher demand amidst a global economic recovery.

Meanwhile, gross profit from the manufacturing segment rose 15.5% to $10.6m from $9.2m a year ago.

The company’s EBITDA before foreign exchange also rose to $6.4m from $100,000 in 9M23, reflecting the profitability of the manufacturing segment.