Financial Performance - Revenue for the six months ended December 31, 2021, was SGD 10,520,931, a decrease of 26.3% compared to SGD 14,251,784 in the same period of 2020[9] - Gross profit for the same period was SGD 875,502, down 51.2% from SGD 1,793,832 in 2020[9] - The company reported a loss before tax of SGD 94,861, compared to a profit of SGD 343,390 in the previous year[9] - For the six months ended December 31, 2021, the company reported a pre-tax loss of SGD 146,308 compared to a profit of SGD 343,390 in the same period of 2020, indicating a significant decline in performance[15] - The net loss for the period was approximately SGD 0.1 million, a decrease of 232.1% compared to a net profit of SGD 0.1 million in the prior year[95] - The gross margin fell to 8.3% from 12.6%, representing a decline of 4.3 percentage points[98] - The group reported a loss before tax of SGD (94,861) for the six months ended December 31, 2021, compared to a profit of SGD 343,390 in 2020[40] Assets and Liabilities - Total assets as of December 31, 2021, were SGD 54,480,071, a decrease from SGD 59,574,097 as of June 30, 2021[11] - Current liabilities decreased to SGD 17,543,994 from SGD 22,671,640 in the previous period[11] - The net asset value as of December 31, 2021, was SGD 38,216,366, slightly down from SGD 38,362,674 as of June 30, 2021[11] - The total cash balance was SGD 17,509,571 at the end of the period, down from SGD 18,587,270 at the end of the previous period[15] - As of December 31, 2021, trade receivables amounted to SGD 3,437,000, down 51.3% from SGD 7,050,305 as of June 30, 2021[58] - Trade payables decreased to SGD 3,007,084 as of December 31, 2021, down from SGD 4,255,871 as of June 30, 2021[84] Cash Flow and Operating Activities - Operating cash flow before changes in working capital was SGD 36,100, a drastic decrease from SGD 1,445,277 in the previous year[15] - The net cash used in operating activities was SGD 226,621, compared to SGD 1,667,510 in the prior period, reflecting ongoing financial challenges[15] - The company experienced a decrease in cash and cash equivalents, with a net decrease of SGD 299,676, contrasting with an increase of SGD 3,699,055 in the same period last year[15] - The company’s cash and cash equivalents stood at SGD 17,509,571, compared to SGD 17,747,818 in the previous period[11] Employee Costs - Total employee costs increased to SGD 1,985,958 for the period, up from SGD 1,765,686 in the previous year, representing a rise of 12.5%[41] - As of December 31, 2021, the group employed 124 employees, a decrease from 139 employees as of December 31, 2020[120] Revenue Sources - Revenue from public sector clients was SGD 7,297,027 for the six months ended December 31, 2021, down from SGD 8,178,531 in 2020, indicating a decline of 10.7%[27] - Major clients contributing over 10% of total revenue included Client I with SGD 2,167,226 and Client II with SGD 1,938,732, with Client I's revenue decreasing by 68.6% from SGD 6,907,904 in 2020[30] Government Grants and Tax - Government grants recognized during the period amounted to SGD 198,310, a decrease of 60.6% from SGD 502,572 in 2020[36] - The group incurred a tax expense of SGD 51,447 for the six months ended December 31, 2021, compared to SGD 232,671 in the same period of 2020, reflecting a decrease of 77.9%[39] Capital Expenditures and Investments - Capital expenditures for the six months ended December 31, 2021, amounted to approximately SGD 20,000, compared to SGD 0.2 million for the same period in 2021[123] - The company has no significant capital commitments as of December 31, 2021[124] Future Outlook and Strategies - The company continues to explore new strategies for market expansion and product development[14] - The company expects Singapore's construction demand for 2022 to be between SGD 27 billion and SGD 32 billion, with public sector projects accounting for about 60% of total demand[96] Corporate Governance - The company has complied with the corporate governance code as per the listing rules as of December 31, 2021[143] - The interim results for the six months ended December 31, 2021, were not audited by the independent auditor, but the audit committee reviewed the unaudited consolidated results[145]
坤集团(00924) - 2022 - 中期财报