Magnecomp International Limited (MIL)--manufactures of hard disk drive suspension assemblies under Magnecomp Precision Technology Public Company Limited (MPT) for major hard disk drive manufacturers and performs precision stamping, commercial tooling and die, and assembly in Mansfield Manufacturing Company Limited (MSF)—announced its results for the October to December 2006 quarter (Q4’06) and the financial year ended 31 December 2006 (FY2006).
As per results, the MIL turnover for Q4’06 improved 4.6% to S$196.3 million from S$187.7 million for Q4’05. The MIL also reported a second consecutive quarter of improved performance by recording a net profit of S$1.1 million compared to a net loss of S$2.2 million for Q3’06. For FY2006, the MILs turnover grew 12.9% to S$721.6 million from S$639.1 million for FY2005. MIL recorded net profit of S$0.9 million for FY2006.
Steven Campbell, CEO of MIL, said, “We are pleased that MSF has continued to do well this year with strong growth in both its stamping and assembly businesses. Its latest performance has allowed MSF to deliver a compounded annual revenue growth in excess of 30% over the last five years, along with expanding margins.”
