AEM Holdings, a maker of precision engineering equipment, raised its nine months and full-year earnings outlook, citing higher sales, better profit margin, and better operational efficiency.
Shares in AEM Holdings rose as much as 13 percent to S$2.88 in Monday morning trading.
The company now expects operating pre-tax profit of between S$25.0 million and S$27.0 million for the nine months ended September, up from the previous guidance of S$17.5 million given in April.
For the full 2017, operating pre-tax profit is now expected to be at least S$32.0 million, more than the S$24.0 million estimate given in August.
"The positive update in our guidance is mainly attributed to higher sales, better profit margin, and better operational efficiency as a result of strong customer demand coupled with benefits from the Company's ongoing efforts at upgrading operational productivity," the company said in a statement on Monday.
At 0250 GMT, shares in the company were up 11 percent to S$2.82 on the Singapore Exchange. The stock has surged 392 percent so far this year.