CTR Holdings revenue grows on increased construction activity

Overview

• Singapore construction firm's half-year revenue rose to S$137.4 mln from S$133.4 mln

• Profit for the period grew to S$10.9 mln from S$6.9 mln; gross profit margin rose to 14.8% from 10.3%

• Earnings per share rose to 0.8 SGD cents from 0.5 SGD cents

Outlook

• CTR Holdings plans to acquire CT Contractors for HK$60.5 mln, with HK$27.5 mln cash due within six months of completion

Result Drivers

• CONSTRUCTION ACTIVITY AND LARGE PROJECTS – Revenue growth reflected higher construction activity and more large-scale projects secured

• TIMELY DELIVERY AND HIGHER-MARGIN CONTRACTS – Gross margin rose to 14.8% from 10.3% as major projects were delivered on time, key contracts accelerated and higher-margin contracts were secured

• HIGHER STAFF AND DEPRECIATION COSTS – Administrative expenses increased on higher employee benefits and depreciation of fixed assets

Company press release: Full Story

Key Details

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)