Financial Performance - Revenue for the six months ended December 31, 2024, was SGD 44,185,932, representing a 37.1% increase from SGD 32,214,535 in the same period of 2023[2] - Gross profit for the same period was SGD 2,996,551, up from SGD 2,161,427, indicating a significant improvement in profitability[2] - The company reported a net profit of SGD 157,445 for the six months ended December 31, 2024, compared to a loss of SGD 424,387 in the previous year, marking a turnaround in financial performance[3] - The gross profit margin for the six months ending December 31, 2024, was approximately 6.8%, consistent with the gross profit margin of 6.7% for the same period in 2023[89] - The company reported a pre-tax profit of SGD 415,994 for the six months ended December 31, 2024, compared to a loss of SGD 313,528 in the same period of 2023[37] - The company reported a profit of approximately SGD 0.2 million for the six months ended December 31, 2024, compared to a net loss of approximately SGD 0.4 million in the same period in 2023, mainly due to increased revenue[98] Assets and Liabilities - Total assets as of December 31, 2024, amounted to SGD 51,512,969, an increase from SGD 48,618,228 as of June 30, 2024[5] - The company’s total liabilities rose to SGD 15,897,856 from SGD 12,921,936, indicating increased borrowing or operational liabilities[5] - The company’s financial position shows a net asset value of SGD 35,615,113, slightly down from SGD 35,696,292, indicating stability in asset management[5] - Non-current liabilities, including lease liabilities, were reported at SGD 356,261, slightly up from SGD 355,385, representing a marginal increase of 0.25%[6] - The total non-current assets as of December 31, 2024, amount to SGD 954,197, compared to SGD 914,310 as of June 30, 2024, showing an increase of approximately 4.4%[30] Revenue Sources - Revenue from public sector clients for the six months ended December 31, 2024, was SGD 44,161,409, up from SGD 31,778,334 for the same period in 2023, indicating a significant increase[25] - Revenue from Singapore accounted for 100% of total revenue for the six months ended December 31, 2024, consistent with the previous year[30] - The public sector projects contributed 100% of the total revenue for the six months ending December 31, 2024, with 54 projects generating 44.2 million Singapore dollars[86] Expenses and Costs - The company reported a significant reduction in administrative expenses, which decreased to SGD 2,409,377 from SGD 2,114,637, contributing to improved profitability[2] - The total employee costs for the period reached SGD 4,593,640, compared to SGD 4,108,796 in the previous year, indicating an increase in labor expenses[38] - The service cost for the six months ending December 31, 2024, increased by approximately 11.1 million Singapore dollars or about 37.1% to approximately 41.2 million Singapore dollars compared to the previous year[88] - Financing costs rose significantly to approximately SGD 14,000 for the six months ended December 31, 2024, compared to approximately SGD 1,400 in the same period in 2023, driven by new office and accommodation leases[95] Impairment and Provisions - The net loss from financial assets impairment for the six months ended December 31, 2024, is SGD 486,434, compared to SGD 121,361 in 2023, reflecting a significant increase in impairment losses[32] - The impairment loss provision for contract assets increased to SGD 605,011 as of December 31, 2024, from SGD 182,399 as of June 30, 2024, representing a significant rise of approximately 231.5%[63] - The expected credit loss for trade receivables is calculated based on historical credit loss experience and current overdue debts, with no significant changes in estimation techniques or assumptions during the reporting period[46] Corporate Governance and Compliance - The financial statements are prepared in accordance with International Financial Reporting Standards, ensuring compliance and transparency[12] - The company has not adopted any new accounting standards that would significantly impact the financial statements for the reporting period[14] - The audit committee has reviewed the unaudited interim results for the six months ending December 31, 2024, and found no objections[128] - The company has adhered to the corporate governance code as per the listing rules[125] Future Plans and Market Outlook - The company has plans for market expansion and new product development, although specific details were not disclosed in the earnings call[2] - The construction demand in Singapore is projected to be between 47 billion and 53 billion Singapore dollars annually by 2025, with total construction demand expected to reach between 39 billion and 46 billion Singapore dollars annually from 2026 to 2029[82] - The company plans to enhance its workforce by hiring additional employees, allocating SGD 2.5 million for this purpose[120] Shareholder Information - The company did not declare any dividends for the six months ended December 31, 2024, nor has it recommended any dividend payments[40] - The company has issued and fully paid up capital of SGD 1,742,143 as of December 31, 2024, with a total authorized share capital of SGD 1,500,000,000[75] - The company confirmed compliance with the standards for securities trading by its directors[124]
坤集团(00924) - 2025 - 中期业绩