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The share price of Ley Choon Group -- which provides services related to underground utility infrastructure and road works -- ran up an eye-popping 14.6% (from 4.8 cents to 5.5 cents) today after The Business Times published an article on it.
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Now, in that Jan announcement Ley Choon did not update the figure for its outstanding orderbook but it's easy for any one to make an educated guess.
We plotted (below) the past outstanding orderbooks (announced with half-year results) to see how much higher it is now from the S$220 million when Ley Choon released its 1HFY25 results back in Nov 2024.
The one assumption we made was that Ley Choon fulfills ~S$10 million of contracts a month, an average that was seen in FY2024 and FY2023.
Thus, from the outstanding $220 million in Nov, subtract $20 million (2 months of contract fulfilled) + $132 million (newly announced contracts) = $332 million oustanding orderbook.
As the chart above shows, the order book is at its highest in the past 5 years.
Another positive is that the gross margin has been trending up (table below), which portends well for future net profits.
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FY20 |
FY21 |
FY22 |
FY23 |
FY24 |
1H |
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GP margin |
7.5 |
7.9 |
11.7 |
13.2 |
16.3 |
20.6 |
Ley Choon's net profit margin jumped to 11.4% in 1HFY2025, compared to 8.6% the year before.
1H2025 revenue saw a modest bump of 2.5% year-on-year to S$64.4 million, but net earnings soared by 35.9% (chart below), thanks to lower finance costs. 
EPS for 1HFY25 was 0.486 cent/share. Annualised PE for FY25 is 5.7X
See also: LEY CHOON: 8 years on, fulfills its debt repayment. It can't wait to reward shareholders too
