Ann: Appendix 4E and Preliminary Final Report 2024, page-2

As expected , almost all the profit figure is due to Orion divestment.
The result would otherwise has been flat.
A flat result is a turnaround from 2023 loss of $8.8m nonetheless.
Segments performance has been a mixed bag, The standout in the 2nd half was the Oil & gas division that increases revenues by 8% over the HY1 & produced a respectable EBITDA margin around 14% from a small EBITDA loss in HY1.
Revenue growth was flat for the construction division & EBITDA margin was flat in HY2 from 10% in HY1.
The PE divison's revenues showed no growth in HY2 & EBITDA was flat (if we exclude Orion)....we may call this an improvement from 20% negative EBITDA in HY1.....But.
Noticeable strengthening of the balance sheet.....Gearing ratio down to 37% from 50% in 2023.
Nice boost to Working capital from $10.5m to $17.8m.
All in all some signs of recovery.
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"Your Board is preparing the Group to pay a dividend but would decide on this in the first quarter of calendar year 2025."
A penny stock feeling guilty for not paying dividend.