NET LOSS ($’000) The Group recorded a net loss after tax of S$3.9 million in FY2024, as compared to a net loss after tax of S$51.2 million in FY2023. GROSS PROFIT/LOSS ($’000) In line with the lower revenue recorded, cost of sales decreased to S$178.0 million in FY2024 as compared to S$226.2 million in FY2023. The Group significantly narrowed its gross loss to S$5.4 million or by 79.4% from S$26.4 million in FY2023. The decrease in gross loss was mainly attributable to the near completion of pre-pandemic projects which had higher construction costs for materials and labour. REVENUE ($’000) Group’s revenue decreased by 13.6% to S$172.6 million. The decrease in revenue was mainly due to lower revenue recognition for construction projects which have already obtained Temporary Occupation Permit in FY2023, namely The Antares, Wilshire Residences and Sky Everton, while construction projects such as Tengah Plantation C5 and Solitaire on Cecil have just started. FY2021 FY2022 FY2023 FY2024 76,952 148,067 199,789 172,597 FY2021 FY2022 7,488 (30,792) FY2023 FY2024 (26,366) (5,428) FY2021 FY2022 FY2023 FY2024 (20,180) (46,591) (51,216) (3,916) 10 KEONG HONG HOLDINGS LIMITED FINANCIAL HIGHLIGHTS
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