Revenue in FY2023 grew 33.9% y-o-y to $79.16 million.
Beng Kuang Marine has reported profit before tax from continuing operations of $10.82 million in its FY2023 ended December, a turnaround from the loss of $5.55 million it recorded in FY2022.
The improved performance was mainly due to improved and positive contributions from infrastructure engineering and corrosion prevention activities; other gains from the disposal of asset held-for-sale of $6.26 million of land forming part of the company’s waterfront fabrication yard in Batam, Indonesia; and strategic initiatives undertaken to exit and dispose of loss making business operations.
