Primech Holdings Ltd. (PMEC) has released an update.
Primech Holdings Limited, a Singapore-based technology-driven facilities services provider, has reported a substantial financial turnaround with its latest half-year results, boasting a revenue increase of 7.5% to $35.2 million, a significant gross profit margin improvement to 16.4%, and a swing to a net income of $0.2 million from a net loss of $1.9 million the previous year. This performance comes shortly after the company’s successful initial public offering in October 2023, which raised $12.2 million in gross proceeds.
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