Financial Performance - The group's revenue for the nine months ended September 30, 2023, increased by approximately 33.6% to SGD 31.1 million compared to SGD 23.3 million in the same period of 2022[4] - The net profit for the nine months ended September 30, 2023, was approximately SGD 2.1 million, up from SGD 0.6 million in the same period of 2022[4] - Gross profit for the nine months ended September 30, 2023, was SGD 9.8 million, representing a gross margin increase from SGD 7.0 million in the previous year[5] - Basic and diluted earnings per share for the nine months ended September 30, 2023, were SGD 0.51, compared to SGD 0.15 in the same period of 2022[5] - The group recorded a pre-tax profit of SGD 2.2 million for the nine months ended September 30, 2023, compared to SGD 0.6 million in the previous year[5] - Other income for the nine months ended September 30, 2023, was SGD 323,000, an increase from SGD 240,000 in the same period of 2022[18] - The company reported a profit attributable to owners of SGD 2.051 million, compared to SGD 611,000 in the same period last year, resulting in a basic earnings per share of SGD 0.51[27] - Profit for the period was approximately SGD 2.1 million, compared to SGD 0.6 million for the same period in 2022[41] Revenue Breakdown - Total revenue for the nine months ended September 30, 2023, was SGD 31.065 million, an increase of 33.5% compared to SGD 23.259 million in the same period of 2022[15] - Revenue from general building projects was SGD 11.703 million, accounting for 37.7% of total revenue, down from 41.8% in the previous year[30] - Revenue from civil engineering projects increased to SGD 7.892 million, representing 25.4% of total revenue, up from 11.5% in the previous year[31] - Labor supply revenue rose significantly to SGD 5.711 million, compared to SGD 0.858 million in the same period last year[15] - Major clients contributing over 10% of total revenue included Client A with SGD 10.499 million and Client B with SGD 6.512 million, totaling SGD 17.011 million[16] Expenses and Costs - Administrative expenses increased to SGD 7.7 million for the nine months ended September 30, 2023, from SGD 6.5 million in the same period of 2022[5] - Direct costs for the same period were approximately SGD 21.2 million, reflecting a 30.9% increase from SGD 16.3 million in the previous year, primarily due to increased labor and subcontracting costs[37] - Financing costs totaled SGD 107,000, up from SGD 81,000 in the previous year, with bank loan interest at SGD 39,000 and lease liabilities at SGD 68,000[20] Equity and Shareholder Information - The group’s total equity as of September 30, 2023, was SGD 15.4 million, an increase from SGD 13.6 million as of September 30, 2022[6] - Amber Capital Holdings Limited holds 204,800,000 shares, representing 51.20% of the company's issued share capital[55] - Mr. Wu and Ms. Chan together hold 96.77% and 3.23% of Amber Capital's total issued share capital, respectively[55] - Other significant shareholders include Mr. Chan Wai Kin, who holds 39,200,000 shares, accounting for 9.80% of the issued share capital[58] - The company has maintained a public float of at least 25% of its issued shares since January 1, 2023[67] Corporate Governance - The roles of chairman and CEO are held by the same individual, Mr. Wu, to ensure unified leadership[62] - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated financial statements for the nine months ended September 30, 2023[68] - The company did not declare any dividends for the nine months ended September 30, 2023, consistent with the previous year[24] - The company did not recommend the payment of any dividends during the reporting period[64] Business Strategy and Market Outlook - The company continues to focus on expanding its core business in reinforced concrete engineering and related contracting services[10] - The company aims to upgrade its license from C1 to B2 level to access a broader range of projects in Singapore[34] - The construction demand in Singapore is projected to be between SGD 27 billion and SGD 32 billion for 2023, supported by strong public sector projects[34] - As of September 30, 2023, the company held six ongoing contracts with a total uncompleted contract value of approximately SGD 80.0 million[31] Employment and Workforce - The company employed a total of 869 full-time employees, with approximately 14% being Singapore citizens and residents[52] Financial Reporting - The financial statements are prepared in accordance with International Financial Reporting Standards and have not been audited[11] - The company did not purchase, redeem, or sell any of its listed securities during the reporting period[61] - The company has adopted a share option scheme but has not granted any options since its adoption[66]
靛蓝星(08373) - 2023 Q3 - 季度财报