Financial Performance - The group's revenue for the six months ended June 30, 2022, was approximately SGD 53.3 million, an increase of about 28.7% compared to SGD 41.4 million in the same period last year[6]. - Gross profit rose from approximately SGD 7.0 million to about SGD 9.3 million, reflecting a growth of approximately 32.9%[6]. - The pre-tax profit for the period was SGD 1.81 million, compared to SGD 1.20 million in the previous year, indicating a significant increase[12]. - The group's basic earnings per share for the period was SGD 0.1516, up from SGD 0.1006 in the previous year[12]. - Total comprehensive income for the six months ended June 30, 2022, was SGD 1,516,321, up from SGD 1,006,269 in 2021[21]. - The group's net profit after tax rose from approximately SGD 1.0 million for the six months ended June 30, 2021, to approximately SGD 1.5 million for the same period in 2022[78]. Construction Demand and Projects - The total construction demand in Singapore for 2022 is projected to be between SGD 27 billion and SGD 32 billion, with the public sector expected to account for about 60% of this demand[7]. - The group anticipates an annual total construction demand of SGD 25 billion to SGD 32 billion from 2023 to 2026[8]. - The group secured a total contract value of approximately HKD 84 million in new construction projects during the period ended June 30, 2022[83]. - The group anticipates construction project tender prices to increase by 5% to 8% in 2022 due to rising material costs and oil prices[70]. Cash and Assets - The net asset value of the group as of June 30, 2022, was SGD 58.55 million, compared to SGD 57.04 million at the end of 2021[16]. - The group reported a cash balance of SGD 6.77 million, an increase from SGD 5.39 million at the end of 2021[16]. - The group reported a net increase in cash and cash equivalents of SGD 1,379,696, compared to a decrease of SGD 101,619 in the previous year[23]. - Cash and cash equivalents increased from SGD 5.4 million as of December 31, 2021, to SGD 6.8 million as of June 30, 2022, due to improved collection of trade receivables[89]. - Trade receivables increased to SGD 5,873,047 as of June 30, 2022, from SGD 3,420,539 as of December 31, 2021, reflecting a 71.6% increase[52]. - The group reported contract assets of SGD 39,511,234 as of June 30, 2022, up from SGD 37,682,800 as of December 31, 2021[60]. Liabilities and Financing - The total liabilities decreased from SGD 82.58 million at the end of 2021 to SGD 75.31 million as of June 30, 2022[16]. - Financing costs for the six months ended June 30, 2022, were SGD 1,286,455, slightly down from SGD 1,380,864 in 2021[38]. - Total interest-bearing loans remained approximately SGD 55 million for both the six months ended June 30, 2022, and the year ended December 31, 2021[89]. - The group’s capital structure consists of debt, including lease liabilities and borrowings, while continuously reviewing its capital structure to optimize shareholder returns[66]. Employee and Administrative Expenses - Administrative expenses increased from approximately SGD 5.7 million to approximately SGD 7.3 million, attributed to rising employee costs[74]. - The company had 454 employees as of June 30, 2022, compared to 360 employees as of December 31, 2021[90]. Corporate Governance and Compliance - The board did not recommend the payment of dividends for the six months ended June 30, 2022[97]. - The company complied with the corporate governance code except for certain deviations noted in the report[110]. - All directors confirmed compliance with the trading code for securities transactions during the six months ended June 30, 2022[109]. - The roles of the Chairman and CEO are currently held by the same individual, which the board believes enhances business strategy execution and decision-making[111]. Investments and Acquisitions - The group has not made any acquisitions or disposals of investment properties during the six months ended June 30, 2022[48]. - The company had no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the six months ended June 30, 2022[95]. - No significant investments were held by the company as of June 30, 2022[96].
双运控股(01706) - 2022 - 中期财报