OKP Holdings has reported earnings of $19.1 million for the 1HFY2025 ended June 30, up 60.7% y-o-y.
The infrastructure and civil engineering company reported a revenue of $104.3 million for 1HFY2025, up 41.2% y-o-y.
Gross profit for the period came in 54.2% y-o-y higher at $32.1 million, resulting in gross profit margin increasing 2.6 percentage points (ppts) to 30.8% for the first half of the year.
The group’s increase in revenue was due to a 57.4% growth in revenue from the construction segment and 21.1% rise in revenue from the maintenance segment, which were partially offset by a 39.8% decrease in rental income.
The construction and maintenance segments saw a higher percentage of revenue recognised from various ongoing and newly awarded construction projects as they progressed to a more active phase. These segments represent 69.5% and 28.7% of the group’s revenue respectively.
Rental income decline was mainly due to ongoing major renovations at the property in Western Australia and the transition period following tenant departures during the last financial year. This segment accounted for 1.8% of the group’s total revenue.
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Other gains decreased to $800,000 in 1HFY2025, primarily due to lower gain on disposal of fixed assets and higher foreign exchange loss arising from the revaluation of assets and liabilities denominated in Australian dollar to Singapore dollar.
The group’s free cash and cash equivalents increased to $131 million as at June 30, and order book for the period stood at $648.3 million with projects extending till 2031.
Shares in OKP Holdings closed 4 cents higher or 4% up at $1.04 on Aug 12.
