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Financial Highlights

Revenue(S$’000)

Group revenue of S$165.0 million was 29.4% lower from revenue of S$233.9 million in FY2017.

The decrease was mainly due to lower construction revenue recognition as projects such as Parc Life executive condominium and Raffles Hospital Extension had been largely completed in FY2017.

The revenue decrease was partially offset by contribution from the construction of Seaside Residences condominium and National Skin Centre.

Financial Highlights

Gross Profit(S$’000)

Gross profit decreased by 11.5% to S$31.3 million.

Despite lower revenue and gross profit, the Group was able to achieve a higher gross profit margin of 19.0% on account of good project management and prudent cost management.

Financial Highlights

Net Profit After Tax(S$’000)

The Group turned in net profit after tax of S$21.4 million, a 66.0% decline over FY2017’s net profit of S$62.9 million. The decrease was mainly due to the absence of one-off exceptional gain of S$49.8 million on remeasurement of investment to fair value upon ceasing equity accounting in joint ventures in the previous financial year.

Excluding the one-off exceptional gains and losses, the Group achieved operating profit of S$27.5 million as compared to S$19.0 million in FY2017. The increase was mainly due to net gain from share of results of joint ventures and associates from property development.

Financial Highlights

Financial Highlights