OKH Global has reported earnings of $3.6 million for the FY2021 ended June, reversing from losses of $22.4 million in the same period the year before.

 

As a result, earnings per share (EPS) stood at 32 cents compared to the loss per share of 1.98 cents in FY2020.

 

Revenue for the period increased by 5.8% y-o-y to $16.1 million, due to increased leasing activities in the group&rsquo s property investment segment.

 

The lack of rental rebates given to eligible tenants in FY2021 also contributed to the higher figure.

 

Cost of sales fell 19.7% y-o-y to $1.1 million.

 

Accordingly, gross profit grew by 8.2% y-o-y to $15.0 million.

 

As a result, OKH Global&rsquo s gross profit margin (GPM) stood 2.1 percentage points higher y-o-y at 93.2%.

 

Other income fell 77.3% y-o-y to $1.3 million, mainly due to the absence of one-off income derived from the gain on disposal of investment properties of around $1.1 million.

 

The lower other income was also due to the absence of grant income, gain from surrendering of an insurance policy and the dividend income from the group&rsquo s investment in a financial asset at fair value through profit or loss.

 

Other income in FY2021 is mainly derived from $0.93 million of grant income.

 

Loss allowance on trade and other receivables fell 85% y-o-y to $180,000 from $1.2 million in the FY2020 due to less impairment loss on amount due from a joint venture made in FY2021.

 

As at June, cash and cash equivalents stood at $10.6 million.

 

No dividends have been declared.

 

Looking ahead, OKH Global says it may monetise some of its assets under its portfolio of development and investment properties.

This is done to &ldquo further strengthen the financial strength of the group as it explores new business opportunities&rdquo .