Extracted from Annual Report 2011
The AIM Group has maintained approximately the same level of revenues for FY2011, as for FY2010 despite the financial and economic uncertainties in the European union dampening the recovery in the aerospace-avionics industry.
Financial And Business Review Of FY2011
In the last financial year ended December 2011, the AIM Group reported a full-year revenue of US$59.7 million for FY2011, as compared to US$60.3 million achieved in FY2010. This represented a 1% drop over the previous year. FY2011 was a challenging year due to the financial and economic uncertainties in the European Union as well as an anaemic US economic recovery, which had led to weakened demands in the final quarter of FY2011.
During FY2011, the AIM Group had expanded its focus to include precision machining and metal stamping for aerospace component parts, to provide more vertical integration services in its strategic offerings to customers. This capability will strengthen the Group's competence in the electronics manufacturing services (EMS) industry, as well as to keep abreast of competition.
The AIM Group will also continue to stay strategically focused in the aerospace-avionics industry as well as in the medical/life science businesses.
In view of our performance of FY2011 and the continuous support from our shareholders, the Board has recommended a tax exempt (one-tier) final dividend of 0.18 Singapore cents per ordinary share (payable on 18th May 2012), subject to approval by the shareholders at the forthcoming Annual General Meeting (which is to be held on 27th April 2012).
Outlook And Prospects Of FY2012
With uncertainties looming in 2012, the ongoing sovereign debt crisis, recession woes in Europe and a softening economy in China, the outlook remains challenging. However, the AIM Group is well poised to develop more business opportunities in the aerospace industry.
The AIM Group remains optimistic about its position in the aerospace industry. The AIM Group's unparalleled integrated solutions capability to support its customers' unique needs will ensure it maintains its competitive advantage and edge over the other EMS providers.
We look forward to FY2012 as another year of continuous growth especially in the avionics segment of our business.
We would like to express our sincere appreciation to our customers, bankers, suppliers and shareholders for their continuous support over the years.
We would also like to express our sincere gratitude to the management and staff of the AIM Group for their relentless efforts, commitment and dedication which will allow us to achieve greater success ahead.
Dr Tan Kim Yong
Group Chairman and CEO