Investor Relations Banner

Financial Highlights

Revenue(S$’000)

The Group registered revenue of S$233.9 million which was a 5.7 per cent decrease from revenue of S$248.0 million in FY2016.

The decrease stemmed from lower recognition of construction revenue from SkyPark Residences, Amore and J Gateway, which had largely been completed in FY2016.

The lower revenue was partially offset by contribution from the construction of the two resorts in the Maldives, Seaside Residences, Raffles Hospital Extension as well as variation orders received and final billings for already completed projects such as Twin Waterfalls, Alexandra Central and J Gateway.

Financial Highlights

Gross Profit(S$’000)

Gross profit weakened by 8.9 per cent to S$35.4 million.

Despite lower revenue and gross profit, the Group is able to maintain a healthy gross profit margin of 15.1 per cent, on account of good project management and prudent cost management.

Financial Highlights

Net Profit After Tax(S$’000)

Increase in net profit was mainly due to an exceptional gain of S$49.8 million on re-measurement of investment to fair value upon ceasing equity accounting in joint ventures. Without this exceptional gain, the Group registered a lower operating profit of S$20.4 million as compared to FY2016.

Decrease in operating profit was mainly due to share of loss of joint ventures and associates and the absence of lump sum profits from property development.

Financial Highlights

Financial Highlights