OKP posts 172.7% rise in net profit to S$5.1m in Q1

INFRASTRUCTURE and civil engineering company, OKP Holdings, posted a net profit of S$5.1 million in the first quarter of 2017 - a 172.7 per cent increase over the corresponding quarter a year ago, it said in a Singapore Exchange filing on Monday.

For the three months ended March 31, 2017, the mainboard-listed company's revenue rose 21 per cent to S$29.7 million, compared to the same period a year ago.

The increase was due to the strong growth in revenue from the maintenance segment, and partially offset by a marginal decrease in revenue from the construction segment.

Basic earnings per share rose to 1.64 Singapore cents in the first quarter of 2017 from 0.60 cent in the same period a year ago.

Net tangible assets per share for the group stood at 38.18 Singapore cents as at March 31, 2017, up from 36.54 Singapore cents three months ago.