XMH Holdings Reports Mixed Q3 Results

XMH Holdings Ltd. (SG:BQF) has released an update.

XMH Holdings Ltd. reported a decrease in revenue for Q3FY2024 due to the lack of major project contracts compared to the previous year, despite this, the company experienced increased gross profit from higher margins across all business segments. The company witnessed significant demand growth for its tugboat engines in the Distribution and After-sales segments. Looking ahead, XMH Holdings Ltd. remains cautious but is focusing on operational improvements, cost efficiency, and strategic options to exit the SGX-ST watch-list.

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