SINGAPORE (Feb 12): Koh Brothers Eco Engineering, the sustainable engineering solutions provider, reported 15% higher earnings of $7.0 million for FY17 ended Dec from a year ago.
This came on the back of a 48% increase in revenue to $298.4 million as sales contribution from the Engineering and Construction Division rose to $277.0 million from $174.6 million a year ago.
The segment’s profit also rose to $5.8 million in FY17 from $3.3 million in FY16.
As at Dec 31 2017, Koh Brothers Eco's balance sheet remains robust with cash and bank balances of $24.9 million and a net cash position.
The group’s earnings per share was 0.80 cent in FY17. Net asset value per share as at Dec 31, 2017 rose to 5.94 cents from 5.27 cents as at Dec 31, 2016.
The group has proposed to increase a final cash dividend to 0.10 cent per share from 0.06 cent per share in the previous year.
CEO Paul Shin says, “Looking ahead, we remain optimistic on our outlook given BCA’s higher projected construction demand for the current year. We will continue to leverage on our expanded capabilities and strengthened financial position to seize growth opportunities, including new projects to add to our order book.”
Shares in Koh Brothers Eco closed 0.4 cent to 7.8 cents on Monday.