Financial Performance - For the six months ended December 31, 2023, the company's revenue was SGD 32,214,535, an increase from SGD 30,053,108 in the same period of 2022, representing a growth of approximately 7.2%[29] - The gross profit for the same period was SGD 2,161,427, compared to SGD 2,024,750 in 2022, indicating an increase of about 6.7%[29] - The company reported a loss before tax of SGD 313,528 for the six months ended December 31, 2023, compared to a profit of SGD 694,225 in the same period of 2022[29] - The net loss for the period was SGD 424,387, contrasting with a profit of SGD 493,218 in the previous year[29] - The company's total revenue contribution from public sector projects was 31.8 million Singapore dollars, accounting for 98.6% of total revenue for the six months ended December 31, 2023[133] - The company's total revenue contribution from private sector projects was 0.4 million Singapore dollars, accounting for 1.4% of total revenue for the six months ended December 31, 2023[133] - The company reported a net loss attributable to shareholders of (424,387) SGD for the six months ended December 31, 2023, compared to a profit of 493,218 SGD in the same period of 2022[81] - The company reported a loss of approximately 0.4 million Singapore dollars for the six months ended December 31, 2023, compared to a profit of approximately 0.5 million Singapore dollars for the same period in 2022[186] Expenses and Costs - The group's administrative expenses for the six months ended December 31, 2023, were approximately SGD 2.1 million, an increase of about SGD 0.8 million compared to approximately SGD 1.3 million for the six months ended December 31, 2022, mainly due to increased employee costs[6] - The total employee costs increased significantly to 4,108,796 SGD for the six months ended December 31, 2023, compared to 2,612,419 SGD in the same period of 2022, representing an increase of approximately 57.2%[80] - The company recognized a material cost of 15,925,722 SGD for the six months ended December 31, 2023, up from 9,756,712 SGD in the same period of 2022, reflecting an increase of approximately 63.1%[80] - Financing costs for the six months ended December 31, 2023, were approximately SGD 1.4 million, a decrease of about 49.7% from approximately SGD 3.0 million for the same period in 2022[140] Assets and Liabilities - As of December 31, 2023, the group had cash and bank balances totaling approximately SGD 7.7 million, down from approximately SGD 10.2 million as of June 30, 2023, with no bank borrowings reported[3] - The company's total assets as of December 31, 2023, were SGD 35,790,838, a slight decrease from SGD 36,408,949 in 2022[33] - The group's total assets less current liabilities amounted to approximately SGD 35.9 million as of December 31, 2023, compared to approximately SGD 36.4 million as of June 30, 2023[21] - The company's non-current liabilities increased to SGD 94,217 from SGD 35,572 in the previous year, reflecting a significant rise of approximately 164.5%[33] - Trade payables as of December 31, 2023, were SGD 6.7 million, a decrease from SGD 8.1 million as of June 30, 2023[150] Taxation - The group's income tax expense decreased from approximately SGD 0.2 million for the six months ended December 31, 2022, to approximately SGD 0.1 million for the six months ended December 31, 2023, primarily due to a reduction in taxable profits[2] - The company's income tax expense for the six months ended December 31, 2023, was SGD 110,859, a decrease from SGD 201,007 for the same period in 2022, showing a reduction of about 45.0%[60] - The deferred tax expense related to corporate income tax for the six months ended December 31, 2023, was SGD 110,859, compared to SGD 210,254 in the previous year, indicating a decrease of approximately 47.3%[60] Revenue Sources - For the six months ended December 31, 2023, revenue from providing electrical engineering services to public sector clients was SGD 31,778,334, compared to SGD 21,364,418 for the same period in 2022, representing a growth of approximately 48.4%[69] - The total revenue for the six months ended December 31, 2023, was SGD 32,214,535, an increase from SGD 24,452,222 in the previous year, indicating a year-over-year growth of about 31.3%[69] - The company’s revenue growth was primarily driven by the recovery of the Singapore construction industry and the clearing of backlog projects from before COVID-19[134] Trade Receivables - Trade receivables as of December 31, 2023, were approximately SGD 9.2 million, compared to approximately SGD 7.8 million as of June 30, 2023[12] - The company's trade receivables as of December 31, 2023, amounted to SGD 9,161,785, compared to SGD 7,833,214 as of June 30, 2023, reflecting an increase of approximately 17.0%[59] - The company's trade receivables aged over 120 days as of December 31, 2023, were SGD 1,532,249, compared to SGD 614,386 as of June 30, 2023, reflecting an increase of approximately 149.5%[59] - The expected credit loss for trade receivables is calculated based on historical credit loss experience, adjusted for current and forecasted economic conditions[106] Government Grants and Other Income - Other income decreased significantly to SGD 87,133 from SGD 200,611 in the previous year, a decline of approximately 56.6%[29] - Total government grants received were 3,549 SGD for the six months ended December 31, 2023, compared to 75,027 SGD in the same period of 2022, indicating a decrease of approximately 95.3%[74] - Bank interest income decreased to 25,828 SGD in the six months ended December 31, 2023, down from 72,219 SGD in the same period of 2022, reflecting a decline of about 64.1%[74] Future Outlook and Investments - The group plans to invest SGD 0.3 million in purchasing external vehicles by June 30, 2024, or earlier[198] - The group has earmarked SGD 0.9 million for upgrading its enterprise resource planning system, with no specific utilization date indicated[198] - The total planned allocation for various projects amounts to SGD 16.6 million, reflecting a significant investment strategy[198] - The group anticipates that the unutilized net amount after reallocation will be utilized by June 30, 2024, for the purposes previously disclosed[199]
坤集团(00924) - 2024 - 中期业绩