Financial Performance - Total revenue for the six months ended March 31, 2025, was SGD 31,956,119, representing an increase of 35.4% compared to SGD 23,625,588 for the same period in 2024[4] - Service revenue increased to SGD 31,678,591, up 35.8% from SGD 23,344,088 year-on-year[4] - Gross profit for the period was SGD 2,839,602, slightly up from SGD 2,753,475, indicating a gross margin improvement[4] - The company reported a pre-tax profit of SGD 413,129, compared to SGD 251,515 in the previous year, reflecting a growth of 64.3%[4] - Basic and diluted earnings per share increased to SGD 0.09 from SGD 0.05, marking an 80% increase[4] - Total segment revenue for construction services was SGD 31,678,591, while property investment revenue was SGD 277,528, leading to total segment revenue of SGD 31,956,119[17] - The company incurred financing costs of SGD 361,629 for the six months ended March 31, 2025, down from SGD 454,307 in the previous year, reflecting a 20.3% decrease[23] - The total employee costs, including directors' remuneration, amounted to SGD 4,415,112, an increase from SGD 3,824,963 in the previous year, representing a 15.4% rise[24] - Other income decreased to SGD 102,767 for the six months ended March 31, 2025, from SGD 217,231 in the same period of 2024, indicating a 52.7% decline[22] - The company did not declare any dividends for the six months ended March 31, 2025, nor for the period following this date[25] Assets and Liabilities - Non-current assets totaled SGD 28,217,793, a decrease from SGD 29,330,320 as of September 30, 2024[5] - Current liabilities decreased to SGD 28,989,138 from SGD 35,184,100, indicating improved liquidity[5] - The company's net asset value increased to SGD 27,587,982 from SGD 27,174,853, showing a positive trend in equity[6] - As of March 31, 2025, the total value of trade receivables is SGD 7,189,863, a decrease from SGD 8,299,673 as of September 30, 2024, reflecting a decline of approximately 13.4%[33] - Contract assets amount to SGD 20,845,505 as of March 31, 2025, down from SGD 23,781,688 as of September 30, 2024, representing a decrease of about 12.9%[36] - The company's total liabilities related to contract assets decreased to SGD 14,588,917 as of March 31, 2025, down from SGD 19,882,389 as of September 30, 2024, indicating a reduction of about 26.7%[36] - The group's trade payables as of March 31, 2025, were SGD 5,354,493, down from SGD 7,067,901 as of September 30, 2024, indicating a reduction of about 24.2%[40] - The total liabilities, including bank overdrafts and borrowings, decreased from SGD 16,333,778 as of September 30, 2024, to SGD 12,607,518 as of March 31, 2025, reflecting a decline of approximately 22.7%[41] - The group's lease liabilities totaled SGD 1,847,588 as of March 31, 2025, compared to SGD 2,230,811 as of September 30, 2024, showing a decrease of around 17.2%[42] Operational Highlights - The company operates primarily in Singapore, with 100% of its revenue generated from this market for the six months ended March 31, 2025[21] - The group continues to focus on expanding its construction services and property investment segments, aiming for further growth in the upcoming periods[13] - The construction services segment generated revenue of 31.678 million SGD in FY2025, accounting for 99.1% of total revenue, compared to 23.344 million SGD or 98.8% in FY2024[55] - The expected nominal value of total construction demand in Singapore for 2025 is projected to be between 47 billion SGD and 53 billion SGD, with real value demand estimated between 35 billion SGD and 39 billion SGD, reflecting a growth of 0.3% to 11.7% compared to pre-COVID levels[53] - The company plans to enhance productivity, technical capabilities, financial management, and team skills to strengthen its core competencies and adapt to changing market demands[53] Employee and Management Costs - The remuneration for directors and key management personnel for the six months ended March 31, 2025, was SGD 599,800, significantly higher than SGD 130,400 for the same period in 2024[45] - The group employed 191 employees as of March 31, 2025, with total employee costs amounting to approximately SGD 4.4 million for the first half of the fiscal year, compared to SGD 3.8 million in the same period last year[80] Investment and Capital Structure - The company holds significant investments in properties, with a total investment cost of approximately SGD 8.12 million and a fair value of approximately SGD 11.46 million, representing 18.1% of total assets as of March 31, 2025[76] - The group has a total investment cost of SGD 4,985,271 and a fair value of SGD 4,250,000 for its major investment property, representing 6.7% of the group's total assets[77] - The debt-to-equity ratio improved to approximately 52.4% as of March 31, 2025, compared to approximately 68.3% as of September 30, 2024[70] - The company had total bank borrowings and lease liabilities of approximately SGD 14.5 million as of March 31, 2025, down from approximately SGD 18.6 million as of September 30, 2024[68] Governance and Compliance - The group has complied with the corporate governance code as per the listing rules during the first half of the fiscal year[84] - The audit committee reviewed the group's unaudited interim results for the first half of the fiscal year and found them to comply with applicable accounting standards and regulations[87] - The company has not conducted any significant post-reporting period events following March 31, 2025[83]
S&T HLDGS(03928) - 2025 - 中期业绩