Ley Choon's net profit up 18.1% YoY in FY24 to $10.9m

The company attributed its profit rise to increased road and cable projects.

Ley Choon Group Holdings posted an 18.1% YoY higher net profit of $10.9m in FY24, fueled by increased construction activities in road works and cable laying projects.

Apart from net profit, the company’s revenue and gross profit also increased, rising 4.2% YoY to $129.1m and 28.9% YOY to $21.1m, respectively.

The company attributed its improved gross profit to the “favourable project mix with higher value construction activities being carried out.”  
With a better bottom line, the company recommended a final dividend of 0.27 cents for FY24.

The proposed dividend offers a yield of 4.6% based on the company’s closing price of 5.9 cents as of 24 May.