Financial Performance - For the six months ending December 31, 2024, the company reported revenue of SGD 105.9 million, a 63.9% increase from SGD 64.7 million in the same period of 2023[2] - Gross profit for the same period was SGD 6.4 million, up from SGD 3.1 million, reflecting a significant improvement in profitability[2] - The company's net profit attributable to shareholders for the six months was SGD 1.98 million, compared to SGD 0.21 million in the previous year, marking a substantial increase of 834%[2] - Basic and diluted earnings per share for the period were SGD 0.25, compared to SGD 0.03 in the previous year, indicating strong earnings growth[4] - The group recorded a profit of SGD 2.0 million for the six months ended December 31, 2024, compared to SGD 0.2 million for the same period in 2023[66] Assets and Liabilities - Total assets as of December 31, 2024, amounted to SGD 135.9 million, an increase from SGD 98.9 million as of June 30, 2024[6] - The total liabilities rose to SGD 94.9 million from SGD 59.9 million, reflecting increased operational activities[7] - The company's equity attributable to shareholders increased to SGD 41.0 million from SGD 39.0 million, showing a positive trend in shareholder value[7] - Total current assets reached SGD 114.1 million as of December 31, 2024, compared to SGD 76.3 million as of June 30, 2024, while total current liabilities increased to SGD 92.5 million from SGD 57.3 million[68] Cash Flow and Liquidity - The company's cash and cash equivalents increased to SGD 66.7 million from SGD 41.2 million, indicating improved liquidity[6] - For the six months ended December 31, 2024, the operating cash flow before changes in working capital was SGD 2,171,000, a significant increase from SGD 311,000 in the same period of 2023, representing a growth of 598.1%[11] - The net cash generated from operating activities for the six months ended December 31, 2024, was SGD 29,913,000, compared to SGD 15,888,000 in 2023, reflecting an increase of 88.1%[11] - The total cash and cash equivalents at the end of the period increased to SGD 66,651,000 from SGD 38,293,000, marking a growth of 74.1% year-over-year[13] Revenue Segmentation - The construction segment generated SGD 105,343,000 in revenue, up from SGD 64,341,000, reflecting a growth of 63.9%[29] - The property segment reported revenue of SGD 557,000, an increase from SGD 312,000, representing a 78.5% growth[29] Operational Activities - The company has plans for market expansion and new product development, although specific details were not disclosed in the earnings call[2] - The company experienced a significant increase in contract liabilities, which rose to SGD 16,334,000 from SGD 2,029,000, representing an increase of 705.5%[11] - The cost of construction for the six months ended December 31, 2024, was SGD 99,532,000, compared to SGD 61,510,000 in 2023, representing an increase of 61.8%[34] Employee and Workforce - The total employee count increased to 504 as of December 31, 2024, from 459 as of December 31, 2023, with total employee costs amounting to approximately SGD 9.4 million[82] Corporate Governance - The company has fully complied with the corporate governance code as of December 31, 2024, except for the provision C.2.1 regarding the separation of roles of Chairman and CEO[89] - The Audit Committee, established on December 17, 2019, is chaired by an independent non-executive director and includes three other independent non-executive directors[92] - The interim consolidated financial statements for the six months ending December 31, 2024, have been reviewed by the Audit Committee and are deemed to comply with applicable accounting standards and listing rules[94] Future Outlook - The construction industry in Singapore is projected to grow by 4.5% in 2024, down from 5.8% in 2023, with external demand expected to remain resilient[55] - The overall construction demand in Singapore for 2025 is estimated to be between SGD 47 billion and SGD 53 billion, reflecting a 0.3% to 11.7% increase compared to pre-pandemic levels in 2019[58] - The group aims to maintain its focus on becoming a leading contractor in both public and private sector construction projects, investing in workforce and new construction technologies[59]
光荣控股(09998) - 2025 - 中期业绩