Big projects boost Yau Lee's result

CONTRACTOR Yau Lee Holdings said the airport project and higher government spending for public housing boosted attributable profit to $21.05 million in the March year, from $5.85 million in the previous year.

Turnover rocketed 48 per cent to $1.46 billion, from $987.47 million and earnings per share were 2.6 cents, from 0.7 cents.

Directors recommended a final dividend of 1.5 cents a share.

They said the group had secured new contracts totalling $1.39 billion, giving an aggregate total of $3.61 billion at March 31 and had also secured one of the largest construction contracts ever awarded by the Housing Authority.