Attika Group (SGX:53W
) has reported higher earnings of $3.4 million in FY2025, ended Dec 31, despite a 32.4% y-o-y decline in revenue to $37.5 million in the same period.
The lower revenue recorded was primarily due to the high base effect from the completion of a significant corporate office project in FY2024.
This was partially offset by revenue recognition from projects secured in FY2024 that reached substantial completion during FY2025. These projects were mainly from government, data centre and community projects.
Despite an 8.0% y-o-y decline in gross profit to $7.7 million, gross profit margin improved to 20.5% in FY2025, compared to 15.1% in FY2024. The higher margin was driven by improved cost management.
Administrative expenses decreased by 26.3% y-o-y to $3.7 million in FY2025, largely due to the absence of one-off listing expenses incurred in FY2024, partially offset by higher staff cost.
Attika Group’s board of directors has recommended a final dividend of 1.1029 Singapore cents per ordinary share for FY2025, a 50% y-o-y increase from 0.7353 cents in the prior year.
See also: OUE slightly trims net loss to $279.1 mil; maintains final dividend at 1 cent per share
For FY2026 and FY2027, Attika Group aims to distribute an annual dividend payout of 35% of its profit attributable to equity holders.
On the order book front, Attika Group has secured two new interior fit-out contracts with an aggregate value of approximately $12.0 million.
The projects, both from the Land Transport Authority of Singapore (LTA), involve interior fit-out works for a bus interchange and a commercial office building, both located in Jurong East, with completion expected by 2027.
See also: Nordic Group reports higher earnings of $19.0 mil for FY2025, up 9% y-o-y
“With our target dividend payout for the next two years, we are committed to sharing the fruits of this growth with our shareholders while maintaining the capital discipline required to seize opportunities in Singapore’s thriving construction sector,” says Steven Tan, Attika Group’s CEO.
Shares in Attika Group closed flat at 44.5 cents on Feb 27.
