Beng Kuang Marine’s net profit soars 168% in FY 2024

The company’s proposed dividend per ordinary share stood at $0.006.

Beng Kuang Marine increased its net profit by 167.7% to $21.19m during the financial year 2024 as compared to FY 2023’s $7.92m.

Driven by strong organic growth from its Infrastructure Engineering division, the group’s revenue increased by 41.3% to $111.8m during the period.

With this, the group improved its gross profit margin to 34.6%, driving gross profit growth of 55.5% to $38.73m.

On earnings before interest, taxes, depreciation, and amortisation basis, the group achieved a higher consideration of $29.25m in FY2024, reflecting an 84.6% year-on-year increase.

The company’s proposed dividend per ordinary share stood at $0.006.

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