Soilbuild Group has reported earnings of $26.6 million for FY2024 ended Dec 31, 2024, up 263.3% y-o-y from the $7.3 million reported in the same period a year ago.
The group’s 2HFY2024 earnings came in 222% y-o-y higher at $19.2 million.
Earnings per share for FY2024 came in at 16.99 cents per share.
The group reported revenue of $391.8 million for FY2024, up 58.4% y-o-y. Revenue for 2HFY2024 grew 100.5% y-o-y to $237.9 million.
The group’s revenue increased with two core business divisions — construction and precast and prefabrication — delivering revenue growth to 53.1% and 87.1% y-o-y respectively.
Under construction, Soilbuild undertook six major projects. Under precast and prefabrication, the group saw higher sales of its products.
As such, the group’s gross profit increased 110.3% y-o-y to $46.5 million in FY2024, and gross profit margin improved to 11.9%.
As at Dec 31, 2024, the group’s cash and cash equivalents increased to $30.6 million.
The group’s order book as at Dec 31, 2024 stood at $1.26 billion.
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Soilbuild’s has proposed a final dividend of 1 cent per share and a special dividend of 1 cent per share, bringing the total dividend for FY2024 to 3 cents per share.
Shares in Soilbuild closed 1 cent lower or 1.183% down at 83.5 cents on Feb 28.
