OKP Holdings’ $433m order book to grow ‘mega jobs’ up for grabs
The company earned S$4.9m in Q3 despite a 30% revenue slump.
And according to DMG, gross profit margin surged from 19.4% to 32.4% on the back of cost savings in design-and-build construction projects.
Here’s more from DMG:
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OKP, Singapore's only listed road specialist, reported 3Q earnings of S$4.9 million (+8.3% YoY), which is in line with our expectations. This was on the back of a 30% YoY fall in revenue, which was mainly due to the completion and substantial completion of existing projects, as well as a lower percentage of revenue recognised from a few newly-awarded projects.
Gross profit margin surged from 19.4% to 32.4% on the back of cost savings in design-and-build construction projects, as well as better project management and tighter cost controls. Balance sheet continues to be strong, with a net cash per share of S$0.31 (55% of share price).
Order book, at S$433m, will likely grow with new mega jobs up for grabs, including the construction of new dual four-lane Lornie Road in Bukit Brown, and the construction of the North-South Expressway.
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Tags: OKP Holdings profit, OKP Holdings revenues
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