Alpina Holdings has reported higher earnings for the 1HFY2025 ended June 30, of $2.7 million, a surge from the $800,000 reported in the same period a year ago.
The group, which provides integrated building services (IBS), mechanical and electrical engineering (M&E) services, and alteration and addition works (A&A), reported earnings of $47.9 million for the period, up 8.7% y-o-y.
In particular, the group saw improvement in its IBS business segment and increase in rental income. Revenue grew 29.2% y-o-y as projects of higher contract value were completed during this period.
Following the completion of the group’s acquisition of a property situated at 180 Woodlands Industrial Park E5 in March 2024, the Group recognised a full six-month contribution of rental income in 1HFY2025, which increased to $2.3 million, an increase of 87.8% y-o-y.
However, the completion of projects under the M&E and A&A business segments in 2024 resulted in lower revenue contributions for the 1HFY2025.
For the 1HFY2025, gross profit margins increased to 13% in 1HFY2025. Gross profit surged 50.5% y-o-y to $6.2 million in the reporting period.
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The group’s administrative expenses, which are a major component of its cost structure, dipped 11$ in 1HFY2025 due to the absence of professional fees related to the acquisition of the entire issued and paid-up capital of Wan Dormitory in March 2024.
The group’s total assets as at June 30 comprised current assets of $52.8 million and non-current assets of $30.7 million.
Cash and cash balances as at end June stood at $15.6 million.
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The board of directors have proposed an interim dividend of 1 cent per share, about 69.4% of earnings in 1HFY2025, and the company's single largest dividend payout since its listing in 2022.
Shares in Alpina Holdings closed 0.5 cents lower or 1.695% down at 29 cents on Aug 14.
