Financial Performance - Revenue for the six months ended June 30, 2021, was SGD 41,388 thousand, an increase of 27.1% from SGD 32,528 thousand in the same period of 2020[6] - Gross profit for the same period was SGD 1,777 thousand, compared to a gross loss of SGD 3,999 thousand in 2020, indicating a significant turnaround[6] - The net profit for the period was SGD 422 thousand, a recovery from a net loss of SGD 7,183 thousand in the previous year[6] - For the six months ended June 30, 2021, the company reported a total comprehensive income of SGD 454,000, compared to SGD 422,000 for the same period in 2020, reflecting a growth of 7.6%[11] - The company reported a pre-tax profit of SGD 509,000 for the six months ended June 30, 2021, compared to a pre-tax loss of SGD 7,200,000 in the previous year[31] - The company achieved a profit of approximately SGD 422,000 for the six months ended June 30, 2021, compared to a loss of approximately SGD 7.2 million in the same period last year, resulting in a net profit margin of about 1.0%[99] Assets and Liabilities - Total assets as of June 30, 2021, were SGD 81,846 thousand, down from SGD 96,788 thousand as of December 31, 2020[9] - Current liabilities decreased to SGD 19,062 thousand from SGD 27,034 thousand at the end of 2020, reflecting improved liquidity[9] - The company's equity attributable to owners increased to SGD 85,603 thousand as of June 30, 2021, compared to SGD 84,816 thousand at the end of 2020[9] - Cash and cash equivalents were SGD 33,014 thousand, down from SGD 46,238 thousand at the end of 2020, indicating a decrease in cash reserves[9] - The company’s total assets as of June 30, 2021, were SGD 112,654,000, a decrease from SGD 122,109,000 as of December 31, 2020[27] - Bank borrowings as of June 30, 2021, were SGD 4,900,000, slightly down from SGD 5,000,000 as of December 31, 2020[29] - The group had total bank borrowings and lease liabilities of approximately SGD 15.3 million, a decrease from SGD 18.9 million as of December 31, 2020[107] - The debt-to-equity ratio as of June 30, 2021, was approximately 0.18, down from 0.22 as of December 31, 2020[107] Cash Flow and Investments - Operating cash flow for the six months ended June 30, 2021, was a net cash outflow of SGD 150,000, an improvement from a net cash outflow of SGD 5,764,000 in the same period of 2020[14] - The company generated SGD 462,000 from the sale of property, plant, and equipment during the six months ended June 30, 2021, while cash used in investing activities totaled SGD 9,078,000[14] - The net decrease in cash and cash equivalents for the six months ended June 30, 2021, was SGD 13,249,000, compared to a decrease of SGD 4,086,000 in the same period of 2020[14] - The company recorded a tax expense of SGD 87,000 for the six months ended June 30, 2021, compared to a tax credit of SGD 17,000 in the same period of 2020[41] - The group invested approximately SGD 3.3 million in capital expenditures for property, plant, and equipment during the six months ended June 30, 2021[111] Revenue Segmentation - The company operates in two segments: earthworks and associated services, and general construction, with no inter-segment revenue reported[23] - Revenue from external customers for earthworks and related services reached SGD 33,741,000, an increase of 33.5% from SGD 25,282,000 in the same period last year[31] - The earthworks and supporting services segment accounted for approximately 81.5% of total revenue, with segment revenue of about SGD 33.7 million[81] - General construction segment revenue increased by 5.5% to approximately SGD 7.6 million, driven by the gradual fulfillment of contracts obtained before or during the pandemic[91] Employee and Compensation - Employee benefits expenses increased to SGD 10,479,000 for the six months ended June 30, 2021, up from SGD 7,730,000 in the same period of 2020, reflecting a rise of approximately 35.8%[1] - The total employee compensation for the six months ending June 30, 2021, was approximately SGD 10.5 million, an increase from SGD 7.7 million for the same period in 2020, reflecting a growth of about 36.36%[121] - As of June 30, 2021, the company had 507 employees, up from 489 employees as of December 31, 2020, indicating a growth in workforce of approximately 3.68%[121] Strategic Initiatives - The company aims to continue expanding its market presence and developing new products, although specific future projections were not detailed in the report[6] - The company is investing in property redevelopment projects to diversify its business and create sustainable income sources[80] - The company plans to focus on higher-margin large infrastructure projects and has secured 11 major infrastructure and residential projects in the second half of 2021[85] - The company is undergoing a human resources transformation plan to enhance employee productivity and engagement, alongside developing a digital application for monitoring performance[87] Governance and Compliance - The audit committee reviewed the interim financial results for the six months ended June 30, 2021[152] - The company has complied with the corporate governance code during the reporting period[146] - No directors or major shareholders had interests in competing businesses during the reporting period[145] - The company confirmed that all directors complied with the securities trading code during the reporting period[147]
川控股(01420) - 2021 - 中期财报