Financial Performance - Total revenue for the six months ended March 31, 2024, was SGD 23,625,588, a decrease of 26% compared to SGD 31,885,141 for the same period in 2023[73]. - Gross profit increased to SGD 2,753,475, up 54% from SGD 1,786,156 in the previous year[73]. - The company reported a profit before tax of SGD 251,515, compared to SGD 27,111 in the same period last year[73]. - Basic and diluted earnings per share were SGD 0.05, down from SGD 0.06 in the previous year[73]. - The company reported a net profit of 11,329,147 SGD for the six months ending March 31, 2024, compared to 11,213,368 SGD for the same period in 2023[150]. - Other income increased to SGD 217,231 from SGD 99,359 in the previous year, reflecting a growth of 118%[73]. - The company reported a net cash from operating activities of SGD 2,376,155, compared to SGD 2,100,251 for the same period in 2023, reflecting an increase of about 13.14%[104]. Assets and Liabilities - As of March 31, 2024, total assets amounted to 28,031,698 SGD, a decrease from 30,211,039 SGD as of September 30, 2023[147]. - The company's non-current assets increased to SGD 27,917,051 as of March 31, 2024, up from SGD 27,797,849 as of September 30, 2023, reflecting a growth of approximately 0.43%[101]. - Total liabilities decreased to SGD 26,463,623 from SGD 27,323,859, showing a reduction of approximately 3.15%[101]. - The group’s total liabilities decreased from SGD 16,124,056 to SGD 15,095,284, a reduction of approximately 6.4%[177]. - Non-current liabilities, including bank loans, decreased to SGD 4,063,249 from SGD 4,812,549 year-over-year[76]. - Cash and cash equivalents at the end of the period were SGD 8,546,790, compared to SGD 8,804,534 at the end of the previous year[81]. Investments and Capital Expenditures - The group purchased property, plant, and equipment amounting to approximately SGD 1.4 million in the first half of FY2024, a significant increase from approximately SGD 15,000 in the first half of FY2023[22]. - The company has no future plans for significant investments or capital assets as of March 31, 2024[35]. - The total amount allocated for enhancing the company's financial position from the net proceeds was SGD 36.4 million, with SGD 21.8 million initially planned[39]. - The company has not granted, agreed to grant, exercised, cancelled, or forfeited any share options under the share option scheme since its adoption in August 2019[58]. Employee and Administrative Costs - As of March 31, 2024, the total employee cost for the first half of the fiscal year was approximately SGD 3.8 million, a decrease from SGD 3.9 million in the same period of 2023[36]. - The total employee count decreased to 182 as of March 31, 2024, down from 197 a year earlier[36]. - The company reported a decrease in administrative expenses to SGD 432,790 for the first half of 2024, down from SGD 490,604 in the previous year[65]. - The total employee costs, including director remuneration, amounted to SGD 3,824,963 for the first half of 2024, slightly down from SGD 3,890,412 in the same period of 2023[65]. Dividends and Shareholder Information - The group did not declare an interim dividend for the first half of FY2024, consistent with the first half of FY2023, which also had no dividend declared[9]. - The company’s board member, Mr. Fang, holds a controlled corporation interest of 360,000,000 shares, representing 75% of the issued share capital[42]. Credit Loss Provisions and Receivables - The expected credit loss provision for financial assets and contract assets increased from approximately SGD 40,000 in the first half of FY2023 to about SGD 160,000 in the first half of FY2024, primarily due to a slight improvement in the economic environment compared to the previous year[6]. - Trade receivables decreased to SGD 4,124,880 from SGD 4,475,803, indicating a reduction of about 7.85%[101]. - Expected credit loss provisions for trade receivables improved to SGD 292,109 from SGD 393,188, indicating a decrease of about 25.7%[170]. - Contract assets, net of loss provisions, amounted to SGD 19,953,590 as of March 31, 2024, down from SGD 20,571,767, a decline of approximately 3%[172]. Other Financial Metrics - The company recorded a net cash outflow from financing activities of SGD 1,579,681, an improvement from SGD 6,737,872 in the previous year[81]. - The financing costs decreased to 454,307 SGD in 2024 from 554,261 SGD in 2023, reflecting a reduction of about 18%[141]. - The company did not incur any taxable profits in Singapore for the six months ending March 31, 2024, resulting in no provision for corporate income tax[149]. - The company made tax adjustments of (253,141) SGD related to prior years' excess provisions refunded by the Singapore tax authorities[150].
S&T HLDGS(03928) - 2024 - 中期财报