CSE Global’s earnings for 1HFY2021 ended June 30 has dropped by a third to $10.1 million, on the back of a 8.3% decline in revenue to $234.5 million for the same period, as projects got delayed which affected revenue recognition.
Even so, group managing director Lim Boon Kheng calls the results “resilient”, given the on-going pandemic and uncertain economic outlook.
The company’s order book as at June 30 was $212.1 million.
“We see opportunities in the Infrastructure sector with the need for more public infrastructure projects, alongside growing digitalisation, automation, physical and cyber-security requirements,” says Lim.
The company plans to pay an interim dividend of 1.25 cents per share.
CSE Global shares closed Aug 11 at 54 cents, up 3.85% for the day and up 12.5% year to date.
