Link: https://links.sgx.com/1.0.0/corporate-announcements/PSU1IY10RA5TGWY6/0c79c8ffe8f28c6c894ccdaa7d0479fc72ba1671e13a7a08fa36f084a3b7b58a

Summary:

• Revenue: S$152.2 million (up 34.8% YoY), driven by Construction and Building Materials; gross profit rose to S$18.6m (from S$6.4m) on improved margins.

• Profit: Net profit attributable to shareholders S$2.6 million (vs net loss S$7.2m in 1H2024); other income S$1.5m (+42%); other loss S$1.4m mainly unrealised FX loss from USD weakness.

• Balance sheet: Cash and bank balances S$81.6m (up S$10.5m); shareholders’ equity S$264.4m; current ratio 1.1x; net gearing 0.19x (vs 0.37x end-2024); NAV/share 64.11 cents (vs 63.01 cents).

• Order book: Approximately S$1.1 billion with visibility to 2029, bolstered by the S$999.1m Changi Airport T5 intra-terminal tunnels JV award.

• Dividend: Interim dividend of 0.1 Singapore cent per share declared for 1H2025.

• Outlook: Construction demand projected at S$47–53b in 2025; Group focused on smooth execution, recovering variation orders, and selective tendering; cautious on leisure/hospitality, exploring AEIs; prudent landbanking in real estate amid macro uncertainties.