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OKP reports higher earnings of $1.2 million for 1HFY2022

·1-min read

The company's orderbook is worth $279.4 million

OKP Holdings has reported earnings of $1.2 million for 1HFY2022 ended June, up 21.7% y-o-y.

Revenue in the same period was up 18.9% y-o-y to $53.6 million, driven by a larger volume of construction and maintenance work done.

"Notwithstanding challenges brought about by the ongoing Russia-Ukraine war which has led to higher commodities and energy costs, we were able to effectively manage our
expenses and recorded higher margins for our construction and maintenance segments," says group managing director Or Toh Wat.

"We remain cognizant of market volatilities and uncertainties and will continue to respond nimbly to constantly stay ahead of any changes," he adds.

The company has a relatively smaller business owning properties such as shophouses and an office in Australia. For 1HFY2022, income from this segment was down 4.2% y-o-y to $3.3 million because of unfavourable forex.

As at June 30, the company's book value was 39.88 cents per share.

The company's order book is now around $279.4 million, to be fulfilled to 2025.

OKP shares last traded at 17 cents.

 

 

 

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