Global PMX Co Ltd (智伸科), a supplier of precision machinery processing services, yesterday reported revenue of NT$286 million (US$9.1 million) for last month, up 17 percent from the same period last year, mainly driven by sales of automotive safety components.
Last month’s annual growth marked the machinery service provider’s sixth consecutive month of double-digit revenue growth, company data showed.
In the first eight months of the year, sales surged 14.7 percent to NT$2.3 billion from the same period last year, the data showed.
“Although the third quarter is usually a slow season for automakers, demand has remained strong, which helped stimulate sales last month,” company spokesperson Maggie Lin (林慈青) said by telephone.
Global PMX has partnerships with automotive suppliers worldwide, such as Continental AG, Bosch Co and BorgWarner Inc.
Automotive component revenue accounts for more than 60 percent of the company’s total sales, while electronic components take up about 20 percent, Lin said.
Among all the automotive parts, components for engine systems and automatic braking systems are the company’s main profit drivers, as global automakers have been installing safety systems in new vehicles for years.
Those key products include high-pressure pumps, anti-lock braking systems and gasoline direct-injection components.
Global PMX said it is cautiously optimistic about sales for this quarter, backed by robust demand from major clients and an ongoing product portfolio adjustment.
“We have tried to maintain our gross margin by producing more high-end components and less low-margin products,” Lin said.
The company’s gross margin in the first half hit 29.5 percent, compared with 21.7 percent during the same period last year.
In addition to its core business, Global PMX has stepped into the medical equipment market, which could help boost its sales next year.
“Sales from medical equipment only account for 10 percent of the company’s total revenue now, but we see strong growth momentum in this sector,” Lin said, adding that this division’s revenue contribution could grow to 20 percent in the near future.
Global PMX said its surgery equipment products are to start production this quarter, and hopes to start mass production next year.
Global PMX shares gained NT$8 to close at NT$145.50 in Taipei trading yesterday, Taiwan Stock Exchange data showed.
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