OKP Q4 profit doubles to S$1.9m; to pay S$0.01 per share dividend

ROADBUILDER OKP Holdings' net profit jumped 127.8 per cent to S$1.9 million, or 0.63 Singapore cents per share, in the fourth quarter amid a tightening of costs.

For the full year ended December, OKP's net profit rose 175.7 per cent to S$7 million, or 2.27 Singapore cents per share.

The company is declaring a final dividend of 0.7 Singapore cent per share and an additional special dividend of 0.3 Singapore cent per share, for a total payout of one Singapore cent per share.

Revenue slipped 4.5 per cent during the quarter to S$24.5 million on a weaker maintenance business. But cost of works fell by 13.9 per cent to S$20.7 million, which helped gross profit to grow by 129.6 per cent to S$3.8 million. The improved margins came from a write-back of over-accrued labour costs from 2014, a drop in headcount, and lower costs of construction materials.