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Singapore “Flyer” of the Week: Broadway Industrial

singapore flyer

Manufacturer of precision-machined components and provider of engineered foam solutions, Broadway Industrial Group Limited (SGX: B69), steals the limelight this week after soaring 8.9% so far, to close at $0.245 on Thursday.

Founded in 1969, the company comprises of over 14 manufacturing and research facilities across China, Thailand and the USA. Broadway Industrial is one of the top three manufacturers of actuator arms and related assembled parts for the global hard disk drive (HDD) industry. Broadway boasts behemoth players in the HDD industry such as Western Digital and Seagate as its clients.

This week, the company announced its latest quarter earnings on 5th November 2013. The revenue increased 20.8% year-on-year to S$162.4 million for third quarter of 2013 (3Q 2013). The increase was driven by growth in the foam plastics division and precision components division. The latter division encompasses both the HDD and non-HDD markets. The net profit ballooned 152.1% year-on-year in 3Q 2013 to S$653,000.

On the same day of the results announcement, the company said that the proposed sale by its wholly-owned subsidiary, Compart Asia Pte Ltd, of a property located at The Central, Singapore has been completed.

The company is currently trading at four times its historical earnings and sports a dividend yield of 4%.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice.  Motley Fool Singapore contributor Sudhan P doesn’t own shares in any companies mentioned.