Financial Performance - For the fiscal year ending October 31, 2024, HPC Holdings Limited reported a revenue decline of approximately 41.3%, from about SGD 289.2 million in the previous period to approximately SGD 169.8 million[8]. - The group recorded a gross loss of approximately SGD 5 million, a significant drop of about 138.6% compared to a gross profit of approximately SGD 13 million in the previous period, resulting in a gross margin decrease from approximately 4.49% to negative 2.95%[8]. - The company reported a net loss after tax of approximately SGD 8.48 million, a significant decline compared to a net profit of approximately SGD 3.10 million in the previous period, representing a drop of about 3.7 times[12]. - The pre-tax loss for the fiscal year was SGD 9.500 million, compared to a pre-tax profit of SGD 4.156 million in the previous year[40]. - The net loss attributable to owners of the company was SGD 8.485 million, compared to a profit of SGD 3.398 million in the previous year[40]. - The loss per share for the fiscal year was SGD 0.53, a decline from earnings per share of SGD 0.21 in the previous year[40]. Revenue Breakdown - For the fiscal year ending October 31, 2024, the total revenue from external customers for the General Construction segment was SGD 157,845, and for the Civil Engineering segment was SGD 11,927, totaling SGD 169,772, representing a decline of 41.2% compared to SGD 289,235 in 2023[56]. - The revenue from the public sector was SGD 56,156 in 2024, down from SGD 80,403 in 2023, a decrease of approximately 30%[65]. - The revenue from the private sector also declined from SGD 208,832 in 2023 to SGD 113,616 in 2024, a drop of about 45.5%[65]. Project and Contract Activity - The total contract value for new projects awarded in 2024 amounted to SGD 461.51 million, indicating the company's ability to adapt to a competitive environment despite challenges[6]. - The group successfully secured six new projects in 2024, including a five-story building for the Singapore Management Development Institute and a nine-story food factory development project[4]. - The group is managing ten ongoing projects, including the six newly awarded projects, indicating continued operational activity despite the challenging market[6]. - The group achieved a significant milestone with a total contract value of SGD 461.51 million in the fiscal year 2024, reflecting substantial accomplishments and new development opportunities[22]. Expenses and Cost Management - Administrative expenses increased to approximately SGD 7.97 million, up about SGD 513,000 from SGD 7.45 million in the previous period, primarily due to increased office management and marketing costs[10]. - The total employee cost for the fiscal year was approximately SGD 30 million, down from SGD 32 million in the previous year[21]. - The company incurred employee compensation expenses of SGD 30,268,000 in 2024, down from SGD 32,369,000 in 2023[70]. - The company reported a loss provision for contracts of SGD 667,000 in 2024, compared to a reversal of SGD 2,582,000 in 2023[70]. Financial Position and Ratios - As of October 31, 2024, the group's current ratio was 1.89, compared to 1.66 on October 31, 2023[15]. - The group's debt-to-equity ratio increased from 19.55% on October 31, 2023, to 21.10% on October 31, 2024, primarily due to loan repayments related to the 7 Kung Chong Road project[16]. - Total assets decreased from SGD 180,019 thousand in 2023 to SGD 158,402 thousand in 2024, a decline of approximately 12%[41]. - Total equity decreased from SGD 87,950 thousand in 2023 to SGD 75,813 thousand in 2024, representing a decline of around 14%[44]. Governance and Compliance - The company is committed to good corporate governance and has adopted the corporate governance code as per the listing rules[30]. - The audit committee has reviewed the accounting principles and practices adopted by the group and discussed internal control procedures and financial reporting matters[33]. - The company has not engaged in any purchase, sale, or redemption of its listed securities during the fiscal year[35]. - The company has not held any treasury shares as of October 31, 2024[36]. Cash Flow and Liquidity - The group anticipates no liquidity issues due to effective cost management and a solid track record in capital structure adjustments, including the introduction of low-risk financing[14]. - Current liabilities decreased from SGD 74,877 thousand in 2023 to SGD 67,899 thousand in 2024, a reduction of about 9%[42]. - Non-current liabilities decreased from SGD 17,628 thousand in 2023 to SGD 14,690 thousand in 2024, a decrease of approximately 17%[42]. - Cash and cash equivalents decreased from SGD 45,278 thousand in 2023 to SGD 43,711 thousand in 2024, a reduction of about 3.5%[41]. Trade Receivables and Payables - Trade receivables decreased from SGD 40,525 thousand in 2023 to SGD 27,540 thousand in 2024, a decline of approximately 32%[41]. - The overdue but not impaired trade receivables as of October 31, 2024, amounted to SGD 11,068,000, a decrease of 56.5% from SGD 25,426,000 in 2023[83]. - The total carrying amount of trade payables and warranty payables decreased to SGD 44,060,000 in 2024 from SGD 54,048,000 in 2023, a reduction of 18.5%[87]. - The total carrying amount of trade payables as of October 31, 2024, was SGD 15,514,000, down from SGD 19,578,000 in 2023, a decrease of 20.9%[90].
HPC HOLDINGS(01742) - 2024 - 年度业绩