The new orders bring its first-half order intake to S$390.6 million, edging down 0.1 per cent from S$391 million in H1 FY2023
SYSTEMS integrator CSE Global on Monday (Aug 5) said it has secured S$204.4 million worth of new orders in the second quarter ended Jun 30, a decrease of 11.7 per cent from S$231.4 million in the corresponding year-ago period.
The decrease was due to one-off contracts secured in Q2 FY2023, including new orders from acquisitions in its communications business totalling S$18 million, and a S$14 million major multi-year maintenance contract secured in automation business solutions.
Excluding the one-off contracts, the group’s new orders for Q2 would have grown by 2.5 per cent year on year.
On a quarterly basis, the Q2 order intake was 9.8 per cent higher than Q1’s intake of S$186.2 million.
This brings its first-half order intake to S$390.6 million, edging down 0.1 per cent from S$391 million in H1 FY2023.
With the new orders, the group closed the first six months of FY2024 with an order book of S$692.3 million, 32.7 per cent higher than S$521.8 million year on year. This figure refers to the total outstanding orders the group has received but not fulfilled at the end of the specified period.
Lim Boon Kheng, group managing director and chief executive of CSE Global, said: “In the first half, we saw more contracts brought about by new trends such as digitalisation, which has led to more data centre projects.”
Following the growth in data centre projects, the group has increased its technical resources and production capacity, he added.
Shares of CSE Global slid 6.5 per cent or S$0.03 to close at S$0.435 on Monday, before the announcement.
