Financial Performance - Revenue for the six months ended August 31, 2025, was SGD 133,385,000, an increase of 44.7% compared to SGD 92,208,000 for the same period in 2024[10] - Gross profit for the same period was SGD 13,672,000, representing a 58.5% increase from SGD 8,630,000 in 2024[10] - Profit before tax increased to SGD 8,209,000, up 111.4% from SGD 3,876,000 in the previous year[10] - Net profit for the period was SGD 6,944,000, a 115.5% increase compared to SGD 3,223,000 in 2024[10] - Total comprehensive income for the period was SGD 6,462,000, compared to SGD 2,953,000 in the same period last year, reflecting a 118.5% increase[10] - Basic and diluted earnings per share for the period were SGD 0.5, compared to SGD 0.2 in the previous year, representing a 150% increase[10] - For the six months ended August 31, 2025, the company reported a pre-tax profit of 8,209 thousand SGD, compared to 3,876 thousand SGD for the same period in 2024, representing a 111% increase[15] - The total construction costs for the six months ended August 31, 2025, amounted to 119,713 thousand SGD, up 43% from 83,578 thousand SGD in 2024[37] - The total tax expense for the six months ended August 31, 2025, was 1,265 thousand SGD, which is 94% higher than the 653 thousand SGD recorded in 2024[46] - Basic earnings per share for the six months ended August 31, 2025, were 4.96 SGD, compared to 2.30 SGD in the same period last year, marking a 116% increase[48] Assets and Liabilities - Current assets as of August 31, 2025, totaled SGD 117,944,000, up from SGD 101,692,000 as of February 28, 2025[12] - Total assets increased to SGD 144,032,000 from SGD 127,254,000, indicating a growth of 13.2%[12] - Total liabilities rose to SGD 75,402,000 from SGD 67,053,000, marking an increase of 12.5%[12] - Equity attributable to owners of the company was SGD 66,663,000, up from SGD 60,201,000, reflecting a growth of 10.8%[12] - The company reported contract assets of 44,391,000 SGD as of August 31, 2025, an increase from 40,908,000 SGD as of February 28, 2025, primarily due to an increase in retention receivables[60] - The contract liabilities stood at 8,444,000 SGD as of August 31, 2025, compared to 7,086,000 SGD as of February 28, 2025, indicating an increase in construction contracts[64] - Trade payables increased to 57,539 thousand SGD as of August 31, 2025, from 47,249 thousand SGD as of February 28, 2025, reflecting a rise of 21.7%[76] - Other payables and accrued expenses rose to 8,688 thousand SGD as of August 31, 2025, compared to 10,578 thousand SGD as of February 28, 2025, showing a decrease of 17.9%[79] Cash Flow and Investments - Operating cash flow for the period was 30,030 thousand SGD, a significant increase from 450 thousand SGD in the previous year[15] - Cash and cash equivalents at the end of the period were 42,604 thousand SGD, up from 27,085 thousand SGD in the previous year[15] - The company reported a net cash outflow from investing activities of 17,187 thousand SGD, compared to a net inflow of 194 thousand SGD in 2024[15] - The group's cash and cash equivalents increased by 63.7% to approximately 75.6 million SGD as of August 31, 2025, from about 46.2 million SGD as of February 28, 2025[111] Employee and Management Costs - Employee benefits expenses, including salaries and bonuses, rose to 3,738 thousand SGD, compared to 3,185 thousand SGD in the same period last year, reflecting a 17% increase[37] - The total employee cost amounted to approximately SGD 9.9 million, an increase from SGD 9.6 million for the six months ended August 31, 2024[125] - The management's total remuneration for the six months ended August 31, 2025, was 960 thousand SGD, an increase from 728 thousand SGD in the same period last year, representing a growth of 31.8%[96] - The total remuneration for directors and executives increased to 1,001 thousand SGD, up 31% from 767 thousand SGD in 2024[41] Shareholder and Corporate Governance - Major shareholders, including Brave Ocean, hold 1,050,000,000 shares, representing 75% of the issued share capital[133] - The board members and top executives collectively own 75% of the company through Brave Ocean, which is controlled by them[129] - The company has adopted a stock option plan as a reward for directors and eligible employees[125] - There are no significant changes in the shareholdings of directors or executives as of August 31, 2025[131] - The company has adhered to the corporate governance code, except for the combined roles of Chairman and CEO held by Mr. Xu Xuping, which the board believes benefits the group's operations[138] Operational Highlights - The number of ongoing projects increased from 20 to 23, with a total contract value of approximately 710 million SGD, of which about 333 million SGD has been recognized as revenue[99] - The company operates primarily in Singapore, generating 100% of its revenue from this region[28] - The group maintains a prudent cash management policy, ensuring strong cash flow and a solid project pipeline despite ongoing geopolitical and trade tensions[100] - The company is actively hiring foreign workers from multiple countries to mitigate potential labor shortages due to regulatory changes[125] Other Financial Information - The company has no significant investments or acquisitions planned as of August 31, 2025[118] - The group reported contingent liabilities of 34.889 million SGD related to performance bonds as of August 31, 2025, up from 25.165 million SGD as of February 28, 2025[121] - No interim dividend has been recommended for the six months ended August 31, 2025, consistent with the previous year[127] - The company has no significant events to report after August 31, 2025, up to the date of this report[126] - The audit committee reviewed the unaudited interim results for the six months ending August 31, 2025, with no disagreements on accounting standards and policies[141] - The unaudited interim results announcement has been published on the Hong Kong Stock Exchange website and the company's website[142]
CTR HOLDINGS(01416) - 2026 - 中期财报