GRC has reported its maiden results as a construction firm, after the acquisition of Chip Eng Seng Construction earlier this year.
For its FY2025 ended June, the company, previously known as OKH Holdings, reported earnings of $7.4 million, double that of $3.62 million in the year earlier, led by a 1,167.8 % y-o-y jump in revenue to $138.1 million.
The results reported by GRC include just two months of results from Chip Eng Seng Construction.
As at June 30, its net asset value per share was 4.28 cents, down from 5.25 cents as at June 20 2024.
As at June 30, its construction order book was $2.3 billion, believed to be among the largest among the local listed construction firms. This amount excludes another $273.2 million worth of contracts won between June 30 and Sept 5.
"The group remains committed to expanding its construction order book by capitalising on the sustained robust demand in the construction sector and leveraging the proven track record of CES Construction Group," says GRC.
In addition, as its previous core business, GRC has investment properties too.
In this regard, GRC says that there had been broader market expectations of moderated growth in industrial rents and prices due to increased supply from 2025 completions, as well as cautious sentiment amid global geopolitical developments.
Even then, it is well-positioned to maintain stability and resilience as shown by full occupancy across all three of its industrial properties, with a weighted average lease expiry ranging from 1.5 to 2.0 years.
See also: As ISOTeam assembles its drone fleet, investors in construction stocks are already racking it in
"As a result, any short-term impact from softer rental reversion trends is expected to be minimal," says GRC.
The company plans to pay a final dividend of 0.13 cents per share.
GRC shares closed at 6.4 cents on Sept 26, unchanged for the day but up 113.33% year to date, valuing the company at $216.7 million.
