Catalist-listed Koh Brothers Eco Engineering Limited (Koh Brothers Eco) has reversed into earnings of $3.04 million for the 1HFY2025 ended June 30.
Revenue for the reporting period increased 68% y-o-y to $112 million, and gross profit grew over 2,000% to $13.9 million.
The group says that this profitability was driven by a strong rebound in the Engineering and Construction segment, which more than doubled its revenue y-o-y to $81.3 million. This was underpinned by higher revenue recognition from new and ongoing projects during the period.
Net asset value per share increased to 4.12 cents as at June 30, compared to 3.99 Singapore cents as at Dec 31, 2024.
As at June 30, the group’s order book amounted to $1.1 billion, and cash and bank balances remained at $64.4 million.
“Our Engineering and Construction segment saw project activity step up as we focused on the smooth execution of new and ongoing projects including the design and construction of the proposed Multi-Storey Lorong Halus Bus Depot, piling and ground improvement-related works for the upcoming Toa Payoh integrated development,” says CEO Paul Shin.
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“The recent $999.1 million contract win for Changi Terminal 5’s intra-terminal tunnels, through an integrated joint venture with Penta Ocean, further strengthens our position, anchoring a robust order book that now exceeds $1 billion,” he adds.
Shares in Koh Brothers Eco closed 0.3 cents lower or 3.226% down at 9 cents on Aug 8.
