CROSBY Research – Impro Precision Industries (1286 HK/ NR): High horsepower engine and aerospace end-market sustained FY24 growth

12 March 2025

Impro Precision’s FY24 revenue amounted to HK$4.7bn, representing a marginal growth of 1.8%. Net profit went up by 10.1% YoY to HK$644.3m in FY24. Its GPM edged up by 1.5ppt to 27.1% in FY24. Improvement in GPM was mainly due to the robust demand from high horsepower engine and aerospace end-markets, partially offset by the lower-than-expected revenue growth from the Mexican plants and the decline in profit in precision machining business.