Overview
Singapore construction firm's half-year revenue rose 6.1% yr/yr to S$19.1 mln
Gross profit declined 13.2% to S$2.6 mln
Pretax profit dropped 45.4% to S$426,000
Outlook
Company says operating conditions are expected to remain challenging, given prevailing cost pressures and market conditions
Result Drivers
HIGHER SERVICE COSTS - Cost of services increased 10%, contributing to lower gross profit
LOWER OTHER INCOME - Other income declined 30.1% yr/yr, impacting overall profitability
Company press release:
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
S$19.10 mln
H1 Gross Profit
S$2.62 mln
H1 Pretax Profit
S$426,000
Reuters Recommended Reads
Aug 12 - Singapore's Sapphire Corp half-year net income falls on higher expenses
Aug 11 - Singapore's OKP Holdings H1 net profit rises 43.8%
Aug 11 - Hong Kong's Sundart Holdings HY profit, revenue driven by fitting-out business
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