PEC Ltd's fourth quarter net profit was S$8.2 million - a reversal from a net loss of S$7.8 million in the previous year.
This was thanks to "an increase in variation orders from completed projects", said the specialist engineering group on Monday.
But for the three months ended June 30, revenue dropped 10 per cent to S$142.7 million from the previous year.
Q4 earnings per share came in at 3.2 Singapore cents, a reversal from a loss per share of 3.1 Singapore cents in the previous year.
Net asset value per share edged up to 86.7 Singapore cents as at June 30, from 80.4 Singapore cents in a year ago.
Ordinary dividend per share climbed to two Singapore cents from one Singapore cent in the previous year. There was also a special dividend of one Singapore cent declared for FY2016.
PEC shares closed 0.01 Singapore cent higher at 43.5 Singapore cents on Monday.