OKP sees 1H earnings grow 6.6% to $4.3 mil on lower cost of works

SINGAPORE (Aug 1): OKP Holdings, the infrastructure and civil engineering company, posted a 6.6% growth in 1H earnings ended June of $4.3 million from $4.1 million a year ago on lower costs of work.

Revenue for 1H decreased 11% to $48.6 million from a year ago. This was the result of the 47.3% decline in the maintenance segment’s revenue to $7.5 million. This was due to a lower percentage of revenue recognised from several maintenance projects that were reaching completion during the half year.

However, the decrease in the maintenance segment’s revenue was partly offset by the construction segment’s 1.7% growth in revenue to $41.1 million, largely attributable to the higher percentage of revenue recognised on existing and newly secured construction projects that progressed to a more active phase during 1H2016.

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