Fu Yu registers a net profit of $5,200 in 1Q24

The company linked low net profit to its manufacturing arm.

Fu Yu registered a net profit of $5,200 in 1Q24 despite achieving a revenue surge.

The company attributed its low net profit to its manufacturing business, which recorded a net loss in 1Q24.

Its manufacturing business revenue dropped 4.0% YoY to $25.3m due to reduced sales in the networking & communications and printing & imaging segments.

Higher contribution from the consumer segment, which rose 31% YoY to $11.4m, partially offset the decline.

ALSO READ: myFirst, Fu Yu target US kids' tech market with $15m deal

Meanwhile, Fu Yu's supply chain solutions unit (FYSCS) helped boost group revenue to $78.9m.

FYSCS’s revenue soared to $53.6m, increasing more than five times from $9.7m a year ago.

For 2025, Fu Yu remains optimistic with new projects recently secured in the biomedical industry.

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