ROE increased to 66.4% in the first half compared to 42.5% in 1H2023. Earnings per share rose to 3.72 cents from 0.98 cents in 1H2023.
Dyna-Mac Holdings' net profit surged to $38.7 million in 1HFY2024 for the six months to end-June, up more than 200%. The higher net profit was achieved through completion of major projects, improved productivity and increase in volume of projects undertaken.
Revenue rose by 42.5% to $259.7 million in 1HFY2024, attributed to completion of major projects in the first half. The Group’s gross profit rose by 191.3% to $71.7 million in 1H2024. Other income witnessed a healthy rise, totaling $7.6 million in 1H2024, reflecting a 116.3% increase from $3.5 million in 1H2023. The rise in other income was mainly due to higher interest income, forex gain and increase in scrap income.
