OKP Holdings has reported earnings of $9 million for 2HFY2023 ended Dec 2023, a turnaround from a loss of $2.2 million in the year-earlier period.
This brings the company's FY2023 earnings to $44.6 million, from a loss of $1 million in FY2022. The better showing was partly helped by a one-off gain from an arbitral award.
OKP plans to pay a final and special dividend of 0.7 cents and 0.8 cents respectively, bringing full-year payout to 2 cents, which includes the interim dividend of 0.05 cent already paid.
Revenue in the same period was up 36.3% to $160.4 million, led by busier construction and maintenance segments.
As at Dec 31, 2023, OKP's NTA per share was 54.66 cents, versus its closing price of 24 cents on Feb 26.
As at Dec 31, 2023, the company's order book was $518.6 million, to be fulfilled till FY2027, up $358.2 million this time last year.
Or Toh Wat, OKP's group managing director, says the company will continue to focus on its core expertise to tender for more projects, leveraging on robust construction demand from both the public and private sectors.
"Forming strategic partnerships is also a priority, particularly for our property development and investment business, to achieve more balanced and sustainable growth," says Or, referring to its other key business of collecting rental income.
Collectively, OKP is cautiously optimistic on the construction sector outlook for 2024 and will exercise caution and prudence in pursuing new opportunities, the company says.
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OKP shares closed at 24 cents on Feb 26, down 2.04%.
