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. ------------- "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.
ZGL Price at posting:
7.0¢ Sentiment: None Disclosure: Held
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