PEC Limited reports FY2024 earnings of $16.0 mil, up 136% y-o-y

Ashley Lo08-28

Earnings per share stood at 6.3 cents in FY2024, up from a share of 2.7 cents in FY2023. Plant and terminal engineering specialist, PEC Ix2 Limited, has reported earnings of $16.0 million in FY2024 ...

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This was driven by an increase in project and maintenance works from overseas.\nGross profit was also up by 33% at $115.0 million in FY2024, compared to $86.3 million in the same period last year, due to project settlements within the full-year period. \nSimilarly, the group’s gross profit margin also increased to 23% in FY2024, on the back of contributions from project works. \nFor the FY2024, PEC’s cash generated from operating activities stood at $42.7 million. \nThe group used $10.2 million in investing activities in FY2024, driven by investments in a fabrication facility, purchase of construction equipment, motor vehicles and office equipment to support the business operation. The amount was partially offset by proceeds from disposal of assets and quoted investments.\nAdditionally, the group used $12.1 million in financing activities FY2024, due to the net repayment of borrowings, dividend payment to shareholders, purchase of treasury shares and payment of lease liabilities.\nOverall, the group saw an increase in cash and cash equivalents of $20.4 million to S$146.6 million in FY2024.\nAs such, the group has proposed to declare a dividend of 2.0 cents per ordinary share in the current financial year. \nShares in PEC Limited closed at 2.5 cents higher or up 4.9% at 53.5 cents on Aug 28.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.26.4","shortVersion":"4.26.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2463440557"}