Yongnam's full-year earnings up 16.5% to $63.4m

Yongnam Holdings says net earnings for the fiscal year ended Dec 31, 2011 rose 16.5% to $63.38 million from $54.40 million last year. Revenue fell 0.7% $332.72 million.

Higher margin specialist civil engineering projects helped boost its gross profit 8.2% higher to $103.6 million while gross margin improved to 31.1% from 28.6%.

Yongnam’s order book remained strong at $462 million.

A first and final dividend of one cent per share has been proposed.