Infrastructure contractor Ley Choon Group Holdings Q0X has reported earnings of $5.5 million for the 1HFY2024 ended Sept 30, up 31.1% over the $4.2 million recorded for the same period last year.
Earnings per share for the half-year period came to 0.36 cents, up over 0.31 cents in 1HFY2023.
Revenue for the same period was up 2.5% to $62.8 million, driven by higher construction activities in road works, cable and gas pipe laying projects.
However, the increase in revenue was partially offset by the decrease in revenue from airport works and some pipe laying projects which are nearing completion.
The company’s gross profit also increased by 20.8% to $10.3 million for 1HFY2024.
Ley Choon’s order book stands at $265.2 million, with cash and cash equivalents of $4.4 million as at Sept 30.
See also: Kimly reports higher FY2024 revenue but earnings down on higher depreciation and other costs
The company has been bidding for the projects prudently and says it will continue to do so in underground infrastructure utilities construction, leveraging its strong track record and expertise.
Shares in Ley Choon closed 0.2 cents or 5.26% down at 3.6 cents on Nov 10.
