Revenue for the same period was up 2.5% to $62.8 million, driven by higher construction activities in road works, cable and gas pipe laying projects.
However, the increase in revenue was partially offset by the decrease in revenue from airport works and some pipe laying projects which are nearing completion.
The company’s gross profit also increased by 20.8% to $10.3 million for 1HFY2024.
Ley Choon’s order book stands at $265.2 million, with cash and cash equivalents of $4.4 million as at Sept 30.
See also: Jardine Matheson posts loss of US$468 mil, but underlying net profit stood at US$1.47 bil
The company has been bidding for the projects prudently and says it will continue to do so in underground infrastructure utilities construction, leveraging its strong track record and expertise.
Shares in Ley Choon closed 0.2 cents or 5.26% down at 3.6 cents on Nov 10.
