Financial Performance - Revenue for the six months ended December 31, 2023, was SGD 64,653,000, representing a 20.8% increase from SGD 53,595,000 in the same period of 2022[2] - Gross profit for the same period was SGD 3,143,000, up from SGD 2,967,000, indicating a gross margin improvement[2] - The company reported a pre-tax profit of SGD 212,000, which is a 69.6% increase compared to SGD 125,000 in the prior year[2] - The total comprehensive income for the period was SGD 254,000, compared to SGD 65,000 in the same period last year[11] - Basic and diluted earnings per share increased to SGD 0.12 from SGD 0.03 year-on-year[11] - Other income for the same period was SGD 852,000, up 85.5% from SGD 459,000 in the previous year[32] - Pre-tax profit for the six months ended December 31, 2023, was SGD 1,485,000, compared to SGD 1,624,000 for the same period in 2022, reflecting a decrease of 8.6%[36] - The group recorded a profit of approximately SGD 0.2 million for the six months ended December 31, 2023, compared to SGD 0.1 million for the same period in 2022[67] Assets and Liabilities - Total assets as of December 31, 2023, amounted to SGD 96,707,000, an increase from SGD 85,293,000 as of June 30, 2023[8] - Current assets increased to SGD 77,718,000 from SGD 65,649,000, reflecting a strong liquidity position[8] - The company's net asset value stood at SGD 37,676,000, slightly up from SGD 37,422,000[9] - The group’s total assets as of December 31, 2023, amounted to SGD 96,707,000, with total liabilities of SGD 59,031,000[26] - The total liabilities, including trade and other payables, reached SGD 43,829 thousand as of December 31, 2023, up from SGD 33,578 thousand as of June 30, 2023, marking an increase of approximately 30.5%[49] - The total current liabilities as of December 31, 2023, were approximately SGD 57.3 million, up from SGD 45.6 million as of June 30, 2023[69] Cash Flow and Liquidity - The company maintained a strong cash position with cash and cash equivalents of SGD 38,293,000, up from SGD 22,913,000[8] - For the six months ended December 31, 2023, the operating cash flow before changes in working capital was SGD 311,000, a decrease of 67% from SGD 944,000 in the same period of 2022[13] - The net cash generated from operating activities for the six months ended December 31, 2023, was SGD 15,888,000, an increase of 25% compared to SGD 12,657,000 in the previous year[13] - The cash and cash equivalents at the end of the period increased to SGD 38,293,000, up from SGD 24,781,000, representing a growth of 54.4%[15] Construction Segment Performance - The total revenue from external customers for the construction segment was SGD 64,341,000, contributing to a total revenue of SGD 64,653,000 for the group[26] - The construction costs for the six months ended December 31, 2023, were SGD 61,510,000, an increase of 21.5% from SGD 50,628,000 in the same period in 2022[36] - The construction segment's operating profit was SGD 256,000, while the enterprise segment reported an operating loss of SGD 346,000[26] Employee and Operational Metrics - The total employee count increased to 459 as of December 31, 2023, from 355 as of December 31, 2022[82] - Employee costs for the six months ended December 31, 2023, amounted to approximately SGD 6.3 million, up from SGD 5.2 million for the same period in 2022[82] Governance and Compliance - Kwan Mei Kam serves as both Chairman and CEO, with the board believing this dual role aids effective management and business development[89] - The Audit Committee, established on December 17, 2019, is chaired by independent non-executive director Pang Ting Wu, ensuring compliance with listing rules[92] - The interim consolidated financial statements for the six months ending December 31, 2023, were reviewed by the Audit Committee and deemed compliant with applicable accounting standards[93] Market Outlook - The total construction demand in Singapore for 2024 is expected to be between SGD 32 billion and SGD 38 billion, with public sector demand accounting for about 55%[58] - The private sector construction demand is projected to be between SGD 14 billion and SGD 17 billion for 2024, similar to the figures from 2023[60] - The Singapore government forecasts moderate inflation for 2024, with potential negative impacts from geopolitical instability and global economic downturns[78]
光荣控股(09998) - 2024 - 中期业绩