Kingboard Holdings profit soars 378% to $5.06b in H1
Revenue over the period amounted to $26.70b.
Kingboard Holdings Limited reported its profit surged by 378% to $5.06b in the first half of the year after registering growth across its diverse business segments.
Revenue over the same period amounted to $26.70b, up 34% from $19.92b in 2020.
“With a vertically integrated model, our laminates and printed circuit board (PCB) divisions achieved growth in both the order books and product prices,” Chairman Paul Cheung Kwok Wing said in a statement.
“The chemicals division also profited from the rocketing demand for commodities and saw record revenue growth during the period.”
Its laminates division saw sales volume increase by 33% year-on-year (YoY) to 65 million sheets. Total revenue from the segment stood at $14.44b, jumping 116% YoY.
Kingboard’s PCB division, for its part, delivered a record sale, driven by 5G and new energy vehicles. The company generated $6.46b from the segment, an increase of 51% from last year.
Moreover, its chemicals business saw revenue growth of 47% to $7.55b as the economic recovery across the globe drove demand for chemicals.
Revenue from its property business, meanwhile, dropped 88% to $575.3m even as it registered a “satisfactory” result in terms of residential pre-sales.
Contracted sales during the period amounted to $2.25b, but the number of units handed over-reduced.