Koh Brothers Eco Engineering FY2022 profit rises 7% to S$2.2m on higher revenues
SUSTAINABLE engineering solutions provider Koh Brothers Eco Engineering posted a 7 per cent increase in net profit to S$2.2 million for the full year ended Dec 31, 2022, up from S$2 million in the year-ago period, according to a Wednesday (Jan 25) bourse filing.
This was on the back of higher revenues – up 15.9 per cent to S$209.4 million – with both the engineering and construction, and bio-refinery and renewable energy segments seeing growth, the Catalist-listed company said.
For the half year, net profit was up 20.6 per cent to S$1 million, while revenue was 51.2 per cent higher at S$107.5 million.
For FY2022, earnings per share stood at 0.08 Singapore cent, the same as in the year-ago period.
“Notably, our bio-refinery and renewable energy sector has seen good traction, backed by robust growth of the global palm oil industry and Oiltek’s deep engineering expertise and value-add to its customers,” said chief executive officer Paul Shin. The segment posted a 62 per cent revenue increase from the corresponding year-ago period.
A final dividend of 0.025 Singapore cent per share was recommended for the year, the same as the corresponding period in the previous year, for shareholders’ approval at the upcoming annual general meeting. The date payable will be announced later.
The counter ended 2.9 per cent or S$0.001 lower at S$0.033 on Wednesday, before the results were released.
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