Catalist-listed Sanli Environmental 1E3 has reported earnings of $4.3 million for its FY2023 ended March, up 138% y-o-y.
Earnings per share for the year stood at 1.63 cents.
Revenue for the year increased by 64.6% to $106.4 million. This is attributable to the 78.1% y-o-y increase from the engineering, procurement and construction (EPC) segment and 20.6% y-o-y increase from the operations and maintenance (O&M) segment.
Cost of contract works increased by 62% y-o-y to $92.2 million in FY2023. This is due to the increase in contract works for both the EPC and O&M segments, in line with the increase in revenue.
Gross profit increased 83.4% y-o-y to $14.3 million in FY2023, while gross profit margin increased to 13.4% in FY2023.
As at March 31, the company has a net asset value of $31.1 million. This translates into a net asset value per share of 11.68 Singapore cents, compared to 10.44 Singapore cents as at March 31, 2022.
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“We will continue to build on this strong momentum for FY2024 and will continue to participate in upcoming tenders as we execute our $355 million order book. Our expansion into both the industrial sector and manufacturing business is also showing promise, as we make inroads into these areas to diversify our customer and revenue base,” says Sanli CEO Kew Boon Kee.
Sanli is proposing a first and final dividend of 0.768 cents per share.
Shares in Sanli closed 0.5 cents higher or 5% up on May 25 at 10.5 cents.
