Revenue Performance - Revenue for the year ended June 30, 2024, was MYR 329,330 thousand, an increase of MYR 111,554 thousand compared to MYR 217,776 thousand in 2023, representing a growth of approximately 51.1%[1] - Revenue from construction contracts for the year 2024 is MYR 45,136,000, up from MYR 26,710,000 in 2023, representing a growth of 68.6%[13] - Revenue from offshore transportation for 2024 is MYR 281,882,000, compared to MYR 173,611,000 in 2023, indicating a growth of 62.5%[13] - The total revenue from the group for the year ending June 30, 2024, is MYR 329,330,000, an increase from MYR 217,776,000 in 2023, reflecting a growth of 51.1%[13] - Revenue from external customers in Singapore rose to 284,194 thousand Ringgit in 2024, up from 184,488 thousand Ringgit in 2023, representing a growth of 54%[22] Profitability - The company reported a profit attributable to owners of MYR 2,994 thousand, a significant recovery from a loss of MYR 8,226 thousand in the previous year, an improvement of MYR 11,220 thousand[1] - Basic and diluted earnings per share improved to 0.60 sen from a loss of 1.65 sen, marking a turnaround of 2.25 sen[1] - The group reported a total segment profit of MYR 14,691,000 for the year ending June 30, 2024, compared to a loss in the infrastructure segment of MYR 980,000[18] - The company reported a pre-tax loss of 6,922 thousand Ringgit, which includes financial costs and losses from joint ventures[20] - The company reported a profit attributable to owners of approximately 3.0 million MYR for the year ending June 30, 2024, compared to a loss of about 8.2 million MYR for the previous year[67] Expenses and Costs - Gross profit decreased to MYR 8,332 thousand from MYR 12,285 thousand, resulting in a gross margin of 2.5%, down from 5.6%, a decline of 3.1 percentage points[1] - The company incurred a total employee cost of 10,527 thousand Ringgit in 2024, compared to 9,171 thousand Ringgit in 2023, reflecting an increase of 14.8%[26] - The group’s administrative and corporate expenses not allocated amounted to MYR 12,882,000 for the reporting period[17] - The group’s financial costs for the period were MYR 963,000, with a share of losses from an associate amounting to MYR 21,000[17] - General and administrative expenses increased by approximately 1.3 million MYR or 8.7% to about 16.2 million MYR for the year ending June 30, 2024[64] Assets and Liabilities - Trade and other receivables increased significantly to MYR 92,419 thousand from MYR 50,742 thousand, reflecting a growth of 82.5%[4] - Current liabilities rose to MYR 133,654 thousand from MYR 74,989 thousand, indicating an increase of 78.1%[4] - Total equity attributable to owners of the company increased to MYR 129,149 thousand from MYR 125,526 thousand, a rise of MYR 3,623 thousand[4] - The company recorded a net cash position of MYR 8,109 thousand in cash and cash equivalents, down from MYR 9,769 thousand[4] - The company’s total assets decreased slightly to MYR 143,154 thousand from MYR 143,878 thousand, a decline of 0.5%[4] Future Outlook and Strategy - The company plans to continue expanding its offshore construction services and infrastructure services, focusing on enhancing operational efficiency and exploring new market opportunities[5] - The group anticipates future expected revenue to be recognized from construction contracts and offshore transportation contracts between June 30, 2025, and June 30, 2028[12] - The group is focused on executing new construction contracts obtained in 2024 to ensure timely delivery of high-quality projects[87] - The group plans to optimize its business model and actively participate in various tenders to strengthen market competitiveness[87] - The group aims to utilize its financial position and management's extensive network to implement suitable business strategies to mitigate potential adverse impacts on operations[87] Compliance and Governance - The group has adopted the standard code of conduct for securities trading by directors as per the listing rules, confirming compliance for the fiscal year ending June 30, 2024[92] - An audit committee was established on April 11, 2019, consisting of three independent non-executive directors, to review financial reports and accounting policies[94] - The independent auditor Crowe Malaysia PLT confirmed that the preliminary performance announcement figures align with the audited consolidated financial statements for the fiscal year ending June 30, 2024[95] - The annual report for the fiscal year ending June 30, 2024, will be published on the stock exchange and the company's website, containing all required information[96] Market Conditions - The construction industry remains competitive, facing inflationary pressures and labor shortages, while the group continues to receive invitations for new projects, including government-related initiatives in Malaysia[86] - The group has maintained a close monitoring of foreign exchange risks and will consider hedging significant foreign exchange risks as needed[79] - The group faces interest rate risk primarily from bank cash and loans, with cash flow interest rate risk concentrated on fluctuations in the Malaysian base lending rate[78]
JBB Builders(01903) - 2024 - 年度业绩