Pan-United reports earnings of $40.86 mil for FY2024, up 19% y-o-y

Pan-United Corporation has reported earnings for the FY2024 ended Dec 31, 2024 of $40.86 million, up 19% y-o-y. 

For the 2HFY2024, earnings came in 9% y-o-y higher at $22.3 million.

Earnings per share for FY2024 was 5.85 cents per share, 19% y-o-y higher than the 4.93 cents per share declared previously. 

Pan-United recorded a 5% y-o-y revenue growth for FY2024 of $812.3 million, and a 3% y-o-y growth in 2HFY2024 revenue of $427.6 million.

The group says that revenue growth was backed by a healthy construction industry in Singapore. The increase in business activities resulted in higher raw material, subcontract costs and other direct costs and other expenses in FY2024. 

The group has declared an interim dividend of 0.7 cents per ordinary share, and a final dividend of 2.3 cents per ordinary share. 

See also: Hongkong Land reports wider losses for FY2024, non-cash provisions from Chinese build-to-sell business impacts profit

Shares in Pan-United closed flat at 62 cents on Feb 25.