Financial Performance - For the fiscal year ending February 29, 2024, total revenue reached SGD 150.217 million, a significant increase of 67.5% compared to SGD 89.755 million in the previous year[4] - Gross profit for the same period was SGD 15.413 million, down 22.7% from SGD 19.950 million in the prior year[4] - The net profit for the year was SGD 2.671 million, representing a decrease of 61.1% from SGD 6.875 million in the previous year[4] - Total comprehensive income for the year was SGD 2.670 million, down 60.4% from SGD 6.747 million in the previous year[5] - The earnings per share (EPS) decreased to SGD 0.19 from SGD 0.49 in the previous year, a decline of 61.2%[5] - Total other income and net gains for the year ended February 29, 2024, is 1,466 thousand SGD, a decrease from 1,532 thousand SGD in the previous year[22] - The group's pre-tax profit for the year ended February 29, 2024, is 2,671 thousand SGD, down from 6,875 thousand SGD in the previous year[27] - Revenue increased from approximately SGD 89.8 million in the fiscal year 2022/2023 to approximately SGD 150.2 million in the fiscal year 2023/2024, representing a growth of 67.4%[36] - Gross profit decreased from approximately SGD 20.0 million to approximately SGD 15.4 million, a decline of 22.7%, with gross margin dropping from 22.2% to 10.3%[38] - Net profit for the fiscal year 2023/2024 was approximately SGD 2.7 million, down 61.1% from approximately SGD 6.9 million in the previous year[43] Revenue Breakdown - Revenue from structural engineering work was SGD 126,333,000, up from SGD 83,602,000, reflecting a growth of 51.1%[19] - Revenue from earthworks construction increased to SGD 23,884,000 from SGD 6,153,000, representing a growth of 287.5%[19] - Major customer A contributed SGD 19,255,000 to total revenue for the year ended February 29, 2024, compared to SGD 12,541,000 in the previous year[17] - Major customer C's revenue contribution rose to SGD 62,432,000 from SGD 15,108,000, indicating a growth of 313.5%[17] Assets and Liabilities - The company's total assets increased to SGD 98.834 million, up from SGD 77.532 million in the previous year, reflecting a growth of 27.4%[7] - Current assets rose to SGD 74.346 million, compared to SGD 57.171 million in the previous year, marking an increase of 30.1%[7] - Total liabilities increased to SGD 46.488 million, up from SGD 27.856 million, indicating a rise of 67.6%[8] - The company's equity attributable to owners increased to SGD 52.346 million, compared to SGD 49.676 million in the previous year, reflecting a growth of 5.4%[8] Cash Flow and Expenses - Cash and cash equivalents increased by 43.6% from approximately SGD 29.7 million to approximately SGD 42.7 million due to positive cash flow from operating activities[44] - The total employee cost for the fiscal year 2023/2024 is approximately SGD 23.7 million, an increase from SGD 16.8 million in the previous year[58] - Administrative expenses increased from approximately SGD 11.4 million to approximately SGD 13.6 million, an increase of 18.8%[40] - The group's construction costs for the year ended February 29, 2024, are 134,804 thousand SGD, compared to 69,805 thousand SGD in the previous year[23] - Construction costs rose from approximately SGD 69.8 million in the fiscal year 2022/2023 to approximately SGD 134.8 million in the fiscal year 2023/2024, an increase of 93.1%[37] Financial Management and Governance - The group has maintained a prudent financial management policy and sufficient working capital to support current operations and meet financial needs[47] - The group has no significant foreign exchange risk as most revenues and costs are denominated in SGD, with only 0.1% of cash held in HKD for regulatory expenses[52] - The group has not made any significant acquisitions or disposals of subsidiaries or associates as of February 29, 2024[50] - The group does not declare or recommend any dividends for the years ended February 29, 2024, and February 28, 2023[26] - The board has resolved not to recommend a final dividend for the fiscal year 2023/2024[60] - The audit committee reviewed the audited financial performance for the year ending February 29, 2024, and found no disagreements with the management or auditors regarding accounting principles and policies[68] - The preliminary announcement of the consolidated financial statements for the year ending February 29, 2024, was confirmed to be consistent with the group's financial reports[70] Operational Insights - The company operates primarily in Singapore, with all revenue and non-current assets generated and located in the region[18] - The company expects to continue focusing on structural engineering and earthworks construction as its main business areas[16] - Payment for construction services is typically due within 30 days of invoice issuance, with a retention percentage held until customer satisfaction is confirmed[20] - Expected revenue to be recognized within one year is 128,894 thousand SGD, an increase from 123,586 thousand SGD in the previous year[21] - The group has 28 projects as of February 29, 2024, with a total contract value of approximately SGD 357 million, of which SGD 213 million has been recognized as revenue[33] Employee and Corporate Governance - The group employs a total of 480 employees, with 7.9% being Singapore citizens and 92.1% foreign workers[58] - The company has adhered to the corporate governance code, except for the separation of the roles of Chairman and CEO, which are held by the same individual, Mr. Xu Xuping[66] - There were no purchases, sales, or redemptions of the company's listed securities during the fiscal year ending February 29, 2024[67] - There have been no significant events occurring after February 29, 2024, up to the date of this announcement[62] - As of February 29, 2024, the group has no significant investments or plans for major capital assets[51] - The capital expenditure for the fiscal year 2023/2024 related to the purchase of properties, plants, and equipment is approximately SGD 0.9 million[56]
CTR HOLDINGS(01416) - 2024 - 年度业绩