Financial Performance - The company reported revenue of SGD 16,829,401 for the three months ended March 31, 2019, compared to SGD 6,349,274 for the same period in 2018, representing a 165% increase[8] - Gross profit for the first quarter of 2019 was SGD 3,881,083, up from SGD 1,752,563 in the first quarter of 2018, indicating a 121% growth[8] - The company achieved a profit before tax of SGD 2,921,431 for the first quarter of 2019, compared to SGD 1,114,505 for the same period in 2018, reflecting a 162% increase[8] - Net profit for the period was SGD 2,331,170, compared to SGD 953,565 in the first quarter of 2018, marking a 144% rise[8] - Basic earnings per share for the first quarter of 2019 were SGD 0.49, compared to SGD 0.20 for the same period in 2018, an increase of 145%[8] - The company reported total comprehensive income of SGD 2,333,611 for the first quarter of 2019, compared to SGD 953,565 in the same period of 2018[8] - The cost of services for the first quarter of 2019 was SGD 12,948,318, up from SGD 4,596,711 in the first quarter of 2018, reflecting a 182% increase[8] - Administrative expenses increased to SGD 773,928 in the first quarter of 2019 from SGD 674,212 in the same period of 2018[8] - Other income for the three months ended March 31, 2019, totaled SGD 46,848, down from SGD 91,358 in the same period of 2018, indicating a decrease of approximately 49%[26] - Selling and administrative expenses for the same period were approximately SGD 820,000, an increase of SGD 113,000 from SGD 707,000 in 2018, aligned with business growth[43] Equity and Assets - The company’s total equity as of March 31, 2019, was SGD 27,830,138, up from SGD 19,910,033 as of March 31, 2018[10] - The group recognized a right-of-use asset of SGD 313,652 as of January 1, 2019, following the adoption of IFRS 16[17] Customer Contributions - Major customer I contributed SGD 13,914,887 to total revenue for the three months ended March 31, 2019, while major customer II contributed SGD 2,250,988 in the same period of 2018[22] - Revenue from Singapore was SGD 16,824,357 for the three months ended March 31, 2019, up from SGD 5,252,658 in the same period of 2018, indicating a growth of approximately 220%[24] Tax and Financing - The income tax expense for the three months ended March 31, 2019, was SGD 590,261, significantly higher than SGD 160,940 for the same period in 2018, representing an increase of approximately 267%[32] - Financing costs increased to SGD 36,821 for the three months ended March 31, 2019, compared to SGD 22,121 for the same period in 2018, reflecting a rise of approximately 66%[31] - The group’s financing lease interest expense decreased to SGD 3,734 for the three months ended March 31, 2019, from SGD 5,224 in the same period of 2018, a decline of approximately 29%[31] Future Plans and Market Position - The company continues to focus on expanding its operations in the construction sector, providing design, supply, manufacturing, and installation services for steel structures[12] - The group aims to expand its capacity and workforce to strengthen its market position in the Singapore steel structure industry, driven by ongoing infrastructure projects[53] - The public sector is expected to contribute SGD 16 billion to SGD 20 billion annually from 2020 to 2023 for construction and civil engineering projects[56] Corporate Governance and Compliance - The company has complied with the corporate governance code as per GEM Listing Rules during the three months ending March 31, 2019[68] - The company has established an audit committee to oversee financial reporting, internal controls, and risk management[76] - The audit committee reviewed the unaudited results for the three months ending March 31, 2019, and provided recommendations[78] Shareholder Information - As of March 31, 2019, Broadbville Limited holds 360,000,000 shares, representing approximately 75% of the issued share capital[63] - The company is considering a proposal to transfer its listing from GEM to the main board of the stock exchange[57] - The company has entered into a share purchase agreement to acquire Kay Huat Trading Company Private Limited for SGD 3,500,000, expected to complete in Q2 2019[73] - The group did not declare any dividends for the three months ended March 31, 2019, consistent with the previous year[33] - No dividends were recommended for the three months ending March 31, 2019[71] - The company did not purchase, sell, or redeem any of its listed securities during the three months ending March 31, 2019[65] - The company has adopted a share option scheme to attract and retain qualified individuals, with no options granted or exercised since its adoption[70] - There were no significant events occurring after the financial period ending March 31, 2019[75] - The company has no known interests in any competing businesses by its directors or major shareholders during the review period[64]
高原之宝(08402) - 2019 Q1 - 季度财报