Financial Performance - For the six months ended August 31, 2024, the company reported revenue of 60,652 thousand SGD, an increase from 53,090 thousand SGD in the same period of 2023, representing a growth of approximately 14.5%[1] - The gross profit for the same period was 7,562 thousand SGD, with a pre-tax profit of 3,447 thousand SGD, leading to a net profit of 2,793 thousand SGD after tax expenses of 654 thousand SGD[1] - Total comprehensive income for the period was 2,953 thousand SGD, compared to 2,810 thousand SGD in the previous year, indicating an increase of about 5.1%[2] - For the six months ended August 31, 2024, total revenue from customer contracts was 92,208 thousand SGD, a 52% increase from 60,652 thousand SGD for the same period in 2023[14] - Structural engineering work contributed 83,578 thousand SGD to revenue, up from 54,037 thousand SGD, representing a 55% increase year-over-year[14] - The group generated 100% of its revenue from Singapore for the six months ended August 31, 2024[13] - Major customer B accounted for 24,001 thousand SGD in revenue, significantly up from 6,837 thousand SGD in the previous year[12] - Other income for the six months ended August 31, 2024, totaled 1,065 thousand SGD, compared to 549 thousand SGD in the previous year, reflecting a 94% increase[16] - The group’s net profit for the period was approximately 3.2 million SGD, compared to 2.8 million SGD for the same period in 2023[71] Assets and Liabilities - The company's total assets as of August 31, 2024, amounted to 120,292 thousand SGD, up from 98,834 thousand SGD as of February 29, 2024, reflecting a growth of approximately 21.6%[3] - Current liabilities increased to 64,993 thousand SGD from 46,328 thousand SGD, marking a rise of about 40.4%[3] - The net asset value of the company was reported at 55,299 thousand SGD, an increase from 52,506 thousand SGD, which is a growth of approximately 5.4%[4] - The company’s equity attributable to owners was reported at 55,299 thousand SGD, reflecting a solid financial position and potential for future growth[4] - The company reported contract assets of 47,428 thousand SGD as of August 31, 2024, compared to 31,586 thousand SGD as of February 29, 2024[34] - The company has a total of 29,804 thousand SGD in unbilled revenue as of August 31, 2024, with a provision for losses of 1,377 thousand SGD[35] - Trade payables as of August 31, 2024, totaled SGD 40,073,000, up from SGD 28,924,000 as of February 29, 2024[46] - Other payables and accrued expenses amounted to 12,616 thousand SGD as of August 31, 2024, compared to 10,843 thousand SGD as of February 29, 2024, representing an increase of approximately 16.3%[47] Cash Flow and Investments - The company’s cash and cash equivalents stood at 27,085 thousand SGD, compared to 26,565 thousand SGD in the previous period, showing a slight increase of about 1.9%[3] - Cash and cash equivalents increased by 1.2% to approximately 43.2 million SGD as of August 31, 2024, from about 42.7 million SGD as of February 29, 2024[71] - The company has approximately 650,000 SGD in fixed deposits pledged as bank guarantees for a structural engineering contract, which has been released after fulfilling contractual obligations[77] - As of August 31, 2024, the group has contingent liabilities amounting to 23,398,000 SGD related to performance bonds for its subsidiaries[78] Employee and Executive Compensation - The group’s employee benefits expenses, including director remuneration, amounted to 3,185 thousand SGD for the six months ended August 31, 2024[18] - The total remuneration for directors and executives for the six months ended August 31, 2024, was 767,000 SGD, compared to 366,000 SGD for the same period in 2023, representing a 109% increase[20] - The total executive director remuneration for the six months ended August 31, 2024, was 728,000 SGD, compared to 324,000 SGD in 2023, marking a 125% increase[21] - Total employee costs for the six months ended August 31, 2024, were approximately 9.6 million SGD, an increase from 9.1 million SGD for the same period last year[82] Financial Management and Governance - The group has maintained a cautious financial management policy, ensuring sufficient working capital for current operations and financial needs[74] - The company has complied with the corporate governance code, with the exception of the separation of roles between the Chairman and CEO[85] - The group has no declared dividends for the periods ending August 31, 2024, and August 31, 2023[60] - The company does not recommend the payment of an interim dividend for the six months ended August 31, 2024[84] Future Outlook and Strategic Plans - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency and service offerings[6] - The group has 31 ongoing projects with a total contract value of approximately 485 million SGD, of which about 304 million SGD has been recognized as revenue as of August 31, 2024[62] - As of August 31, 2024, the group has no significant investments or future plans for major capital assets[75] Compliance and Reporting - The company has reviewed its unaudited interim results for the six months ended August 31, 2024, with no disagreements on the accounting policies adopted[88] - The interim results announcement has been published on the Hong Kong Stock Exchange website and the company's website[89] - The interim report for the six months ended August 31, 2024, will be published to shareholders at an appropriate time[89]
CTR HOLDINGS(01416) - 2025 - 中期业绩