OKH Global has reported earnings of $5.3 million for the 1HFY2022 ended December, up 11.7% from earnings of $4.7 million in the same period the year before.
As a result, earnings per share (EPS) for the 1HFY2022 stood at 0.47 cents.
1HFY2022 revenue climbed 0.7% y-o-y to $8.2 million, thanks to the group’s property investment segment on the back of higher leasing activities and an increase in construction services.
Cost of sales increased by 9.3% y-o-y to $635,000.
Gross profit inched up by 0.1% y-o-y to $7.5 million. There was no significant change to OKH Global’s gross profit margin (GPM).
Other income surged 67.6% y-o-y to $925,000 mainly due to the higher grant income received during the period and the gain from disposal of property, plant and equipment.
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Share of profits of associate fell 8.1% y-o-y to $1.02 million due to higher repair and maintenance cost incurred for their properties.
Cash and cash equivalents as at end-December stood at $12.7 million.
“As part of its continuous review, the group is assessing the relevance of the properties against its overall strategies. The group may monetise some of these assets through sales so as to further strengthen the financial strength of the group as it explores new business opportunities,” says OKH Global in its Feb 11 statement.
No dividend has been declared for the period.
Shares in OKH Global closed flat at 2.7 cents on Feb 11.
