OKG Technology Turns to Profit in H1

MT Newswires Live11-25

OKG Technology (HKG:1499) recorded an attributable profit of HK$664,000 in the six months ended Sept. 30, compared with an attributable loss of HK$3.4 million a year prior, a Tuesday filing with the Hong Kong bourse said.

Earnings per share stood at HK$0.0001 in the six months, while the company had incurred a loss per share of HK$0.0006 in the corresponding period of the last year.

Revenue for the construction engineering company fell 43% to HK$112.6 million in the half year from HK$195.7 million in the year-ago period.

The decline in revenue was due to lower revenues from the foundation, building construction works, and ancillary services segment. The firm attributed the turnaround to profit mainly to lower subcontracting costs from the same segment.

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