The company achieved a return to profit after a prior-year loss, but faces a challenging global environment impacting revenues.
Despite a soft first quarter revenue impacted by prior U.S. tariff issues, the company posted strong profitability improvements and expects a stronger second half driven by new customer wins, the India-U.K. FTA, and capacity ramp-ups, maintaining its full-year revenue guidance.
The company delivered its highest-ever quarterly revenue, with strong growth in its new business and recovering EBITDA margins, positioning it well to meet its full-year guidance.
The quarter demonstrated broad-based growth with consolidated revenue up 21% year-on-year, driven by favorable tariff changes and strong order visibility, despite significant cost pressures.