Yahoo Finance CSE Global books higher revenue for 1QFY2022, chalks up new orders
CSE Global is looking out for new markets, says group managing director Lim Boon Kheng
CSE Global has reported revenue of $117.6 million for 1QFY2022, up 5.8% over the year earlier period.
In its business update for the quarter, CSE’s received new orders of $232.3 million, up 118.8% over 1QFY2021, bringing its total order book to $344 million, up 49%.
The engineering company operates in three key segments: energy, infrastructure and last but not least, mining and minerals.
In 1QFYF022, CSE enjoyed the biggest order increase for its infrastructure business, which it says was because of a major contract to provide engineering solutions for the data-centre market and higher field services orders for the wastewater market in the Americas region.
Lim Boon Kheng, CSE’s group managing director, cautions that the global economic outlook continues to be impacted by supply chain disruptions and inflationary pressures, presenting uncertainties in the markets where the company operates.
“Despite the headwinds, we will continue to execute our substantial order book while actively seeking new opportunities to grow the business,” he says.
“Meanwhile, we will focus on our core businesses and be on the lookout for suitable opportunities to drive expansion into new geographical markets,” adds Lim.
CSE Global shares closed May 17 at 47 cents, unchanged for the day and down 6% year to date.
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