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Gross profit margin increased from 19.69% in the first nine months of 2023 to 29.44% in the first nine months of 2024, mainly due to the overall improvement in operational efficiency of precision cleaning and surface treatment. Hard disk business is recovering !
Going forward, Hap Seng expects high CPO prices to remain a boon for its plantation business, increased tourist arrivals and spending to benefit the group’s hospitality segment under the property division, and for continued prudent lending to support minimising NPLs under its credit financing business.
The precision cleaning business is a specialist business and Mclean is likely to have a healthy profit margin due to the value-added nature of its services