Hock Lian Seng’s profit after tax grows 20% in FY 2024

Earnings per share stood at $0.0625.

Hock Lian Seng’s profit after tax grew 20.4% year-on-year to $32m in financial year 2024, according to the company’s unaudited financial report.

Gross profit increased by 30.9% to $30.4m. Civil Engineering saw a significant rise in gross profit to $17.1m due to the finalisation of accounts as the joint venture with Changi Airport was near completion.

However, group revenue for the financial year 2024 was $183.5m, a decrease of 9.2% YoY.

Earnings per share stood at $0.0625.

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