The group reported a 1.1% y-o-y higher revenue of $130.5 million for FY2025, but a 0.4% y-o-y decline in revenue for 2HFY2025 of $66.1 million.
The company has two main business segments, pipes & roads and construction materials, which account for 98% and 2% of the group’s total revenue respectively.
The 2HFY2025 decline in revenue was due to lower construction activities in certain pipe laying projects, which was partially offset by higher revenue from cable laying projects, airport works and sales of construction materials.
The growth in gross profit was primarily driven by stronger margins from certain projects that delivered better profitability compared to the same period last year. However, the increase was partially offset by reduced losses from certain legacy pipe-laying projects now nearing completion.
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For the 2HFY2025, administrative expenses, selling and distribution expenses, and other operating expenses increased, while other income and finance costs decreased.
As at end March, the group’s current assets increased to $76.6 million due to increase in cash and bank balances, trade and other receivables, inventories among others.
Cash and cash equivalents stood at $15.1 million as at end March, and net cash generated from operating activities was $13.3 million.
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The group has recommended a final dividend of 0.3 cents for the FY2025, up from the 0.27 cents declared in the same period a year ago.
Shares in Ley Choon closed flat at 7 cents on May 29.
