AoFrio has reported a 27.4% increase in revenue for the first half of the 2024 financial year, reaching $38.4 million.
The company's strong performance was driven by its new US internet-of-things strategy, new business wins in North and South America, and a notable improvement in customer satisfaction.
AoFrio achieved a significant turnaround in its earnings before interest, taxes, depreciation, and amortisation (ebitda), recording a profit of $1.1m for the period, compared to a $0.7m loss last year.
The commercial refrigeration solutions provider is maintaining its revenue guidance for the full year, expecting it to be in the range of $70m to $80m, which would be a 13% increase over the previous year.
AoFrio is also targeting ebitda of around $2.5m for FY24.
However, the company acknowledged that its guidance could be affected by macroeconomic conditions.
