OKP: Generally within consensus. 3Q rev at $25.5m -30.4% yoy -11.1% qoq with net profit $4.9m +8.3% yoy -29.1% qoq. Gross margins yoy was higher due to certain design-and-build projects which yielded higher gross profit margins, better proj mgmt and tighter cost controls. Decrease in rev due to substantial projects completed and lower % of rev from newly-awarded projects. Construction segment accounted for 84.3% of rev and maintenance 15.7%. Order book based on secured contracts stands at approx $433.4m.
At 9M EPS of 5.8c, co trades at annualized P/E of 7.3x.
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