OKP Holdings: 1Q rev at $32.8m -3.1%yoy but net profit was at $5.2m +49.4%yoy. Net profit margins remained stable at 15.9% from prev quarter 15.5% and has improved over prev yr same period’s margin of 10.3% from cost savings in certain design and build projects. Fall in rev was due to % of rev recognized from projects, attributed to timing differences…
Co’s current order book stands at $375.8m and outlook remains buoyant with 3 civil projects worth $94.4m secured since start of 2011. 1Q EPS at 1.93c resulting in annualized P/E of 8.4x.
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