Soilbuild Construction has reported earnings of $28.3 million for the 1HFY2025 ended June 30, surpassing its previous full-year earnings of $26.6 million.
The 1HFY2025 figure is also 282.9% or 3.8 times higher than its earnings of $7.4 million for the 1HFY2024.
Earnings per share (EPS) on a basic and diluted basis stood at 17.1 cents, up from 5 cents previously.
1HFY2025 revenue grew by 77.3% y-o-y as the group’s two core businesses, construction and precast & prefabrication, saw revenues growing by 76.7% y-o-y and 77.3% y-o-y previously.
Gross profit surged by 193.5% y-o-y to $43.6 million due to an overall increase in revenue and margins, which were undisclosed.
The 1HFY2025 also generated $47.1 million in cash, leading to a stronger balance sheet with total assets of $337.2 million and cash and cash equivalents of $58.4 million as at June 30.
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Looking ahead, the group says it sees improved revenue visibility thanks to its order book, which stood at $1.19 billion as at June 30. The figure includes three new construction contracts and seven new precast supply and delivery contracts totalling $360 million in value. These were secured since the last FY2024. Revenue will be recognised according to the progress of these contracts.
“We are pleased to begin the first half of year on a strong footing, where our team's focus on operational excellence, cost optimisation, and timely project delivery has translated into robust revenue growth and enhanced profitability,” says Lim Han Ren, executive director and group CEO of Soilbuild.
“With an order book of $1.19 billion that provides good revenue visibility, our diversified presence across multiple construction categories continues to be a key competitive advantage, reinforcing our position as a sustainable and resilient builder,” he adds.
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With its results, Soilbuild has proposed an interim dividend of 2 cents per share, to be paid on Sept 15.
Shares in Soilbuild closed flat at $1.57 on Aug 12.
