Okp Holdings

Okp Holdings

OKP Q2 net profit more than doubles despite revenue slide

OKP Q2 net profit more than doubles despite revenue slide.

13.8.2019

OKP Q2 net profit more than doubles despite revenue slide.

OKP Holdings on Tuesday reported that its net profit more than doubled from a year ago to S$278,000, despite revenue falling 29 per cent to S$19.4 million for its second quarter ended June 30, 2019. Read more at The Business Times.

OKP Holdings on Tuesday reported that its net profit more than doubled from a year ago to S$278,000, despite revenue falling 29 per cent to S$19.4 million for its second quarter ended June 30, 2019.

The infrastructure and civil engineering company attributed the improvement in bottom line to higher contribution from the rental income segment, a few construction projects which commanded better gross profit, and higher other gains mostly because of a technical management consultancy fee for a piling project in Jakarta.

Conversely, revenue fell due to a 66 per cent decline in maintenance segment revenue, partially offset by a 38 per cent increase in construction segment revenue and a 11 per cent increase in rental income.

Read more: The Business Times
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