Intraco Limited has reported earnings of $896,000 for the 1HFY2025 ended June, up 271.8% y-o-y.
Revenue for the 1HFY2025 declined 19.3% y-o-y to $73.8 million, and gross profit declined 25% y-o-y to $1.95 million.
The group says that this decrease was due to a decline in revenue from the trading and distribution business due to lower demand of plastic resins in Indonesia and Vietnam markets.
Revenue from the mobile radio infrastructure management and corporate advisory services decreased, due to the expiry of service contract for North‐East MRT Line in July 2024.
The group saw an increase in trade finance and other income due to higher contributions from trade finance and supply chain solutions amounting to $500,000 in 1HFY2025.
Meanwhile, the group recorded a reversal of overprovision of deferred tax liabilities in the prior year of $400,000 in 1HFY2025, which arose from uplift in the valuation of properties owned by K.A. Group based on its market value.
See also: Grand Banks Yachts FY2025 earnings down 14.8% y-o-y to $18.2 mil; final divided of 1 cent declared
Given the completion of the disposal of the K.A. Group in May 2025, the deferred tax liability is reversed and recognised as an income.
As at June 30, the group’s cash and cash equivalents decreased to $49.5 million due to higher trade loans of $8.8 million.
The group had an increase in loans and borrowings of $5.5 million to $44.2 million due to the increase in amount payable to its digital commercial paper investors of $10.0 million offset against decrease of $4.3 million of trust receipts.
Shares in Intraco closed 0.5 cents lower or 1.493% down at 33 cents on Aug 8.
