Financial Performance - Revenue for the six months ended December 31, 2024, was SGD 44,185,932, an increase of 37.1% compared to SGD 32,214,535 in 2023[8] - Gross profit for the same period was SGD 2,996,551, up from SGD 2,161,427, reflecting a gross margin improvement[8] - The company reported a pre-tax profit of SGD 415,994, compared to a pre-tax loss of SGD 313,528 in the previous year[8] - Net profit for the period was SGD 157,445, a significant recovery from a net loss of SGD 424,387 in 2023[8] - Total comprehensive income attributable to owners for the period was SGD 120,190, compared to a loss of SGD 618,111 in the prior year[8] - Earnings per share for the period was SGD 0.02, recovering from a loss per share of SGD 0.04 in 2023[8] - Other income increased to SGD 292,387 from SGD 87,133, indicating growth in ancillary revenue streams[8] - The company achieved a profit of SGD 157,445 for the six months ended December 31, 2024, compared to a loss of SGD 424,387 for the same period in 2023, indicating a significant turnaround[15] - Operating cash flow before changes in working capital for the six months ended December 31, 2024, was SGD 1,074,662, a substantial increase from SGD 232,297 in the previous year[15] - The company reported a net cash increase of SGD 182,502 for the six months ended December 31, 2024, compared to a decrease of SGD 2,392,633 in the same period of 2023[15] Assets and Liabilities - Total assets decreased to 36,650 million, with a net asset value of 36,294 million[10] - Current assets reported at 15,708 million, with cash and cash equivalents at 18,727 million[10] - Total liabilities amounted to 11,898 million, with current liabilities at 7,711 million[10] - The company reported a total equity of 24,752 million, with a capital surplus of 31,669 million[10] - The accumulated surplus reached 14,350 million, indicating a strong retained earnings position[10] - The financial position shows a significant liquidity with current assets exceeding current liabilities[10] Operational Costs - Administrative expenses rose to SGD 2,409,377 from SGD 2,114,637, reflecting increased operational costs[8] - Financial asset impairment losses increased to SGD 486,434 from SGD 121,361, indicating potential challenges in asset management[8] - Total employee costs increased to SGD 4,593,640 from SGD 4,108,796, representing a rise of about 11.8%[41] - The total cost of materials recognized as service costs was SGD 20,609,261, compared to SGD 15,925,722 in the previous year, indicating an increase of approximately 29.5%[41] Market and Strategic Outlook - The company is focusing on expanding its market presence and enhancing product offerings[11] - Future outlook remains positive with strategic initiatives aimed at growth and innovation[11] - The company is committed to maintaining a strong balance sheet while pursuing new opportunities[11] - The Singapore Construction Authority forecasts that construction demand in Singapore is expected to range between SGD 47 billion and SGD 53 billion in 2025[76] Cash Flow and Financing - The company’s cash and cash equivalents at the end of the period were SGD 7,271,226, slightly down from SGD 7,657,225 at the end of the previous year[15] - Financing costs increased significantly, with lease liability interest rising to SGD 14,232 from SGD 1,381[38] - The average borrowing rate for lease liabilities as of December 31, 2024, was 2.88%, down from 4.06% as of June 30, 2024[69] - The company has adopted a prudent cash and financial management policy, maintaining a stable financial position throughout the reporting period[95] Trade Receivables and Impairments - Trade receivables decreased by SGD 2,472,058 for the six months ended December 31, 2024, compared to an increase of SGD 1,449,932 in the previous year, indicating improved collection efficiency[15] - Trade receivables impairment loss decreased to SGD 63,822 from SGD 121,361 year-over-year, a reduction of approximately 47.4%[37] - The provision for expected credit losses on trade receivables increased to SGD 847,854 as of December 31, 2024, from SGD 784,032 as of June 30, 2024, indicating a rise of approximately 8.2%[49] Corporate Governance and Compliance - The company has complied with the corporate governance code as per the listing rules for the six months ending December 31, 2024[125] - The interim results for the six months ending December 31, 2024, were not audited or reviewed by independent auditors, but the audit committee has reviewed the unaudited consolidated results[127] Shareholder Information - Southern Heritage Limited holds 550,000,000 shares, representing 55.00% of the issued share capital[110] - The company did not declare any dividends for the reporting periods ended December 31, 2024, and 2023[42] - The company has not granted, exercised, canceled, or expired any options under the share option scheme since its adoption on June 10, 2019, and there are no unexercised options as of December 31, 2024[114]
坤集团(00924) - 2025 - 中期财报