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Soilbuild Group reports FY2023 earnings of $7.3 million as construction industry recovers from pandemic

The Edge Singapore
The Edge Singapore • 1 min read
Soilbuild Group reports FY2023 earnings of $7.3 million as construction industry recovers from pandemic
The company plans to pay a first and final dividend of 0.1 cent per share
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Soilbuild Construction Group has reported earnings of $7.3 million for F2023, reversing from a loss of $31.7 million incurred because of the pandemic which disrupted construction activities.

Revenue in the same period was held steady at $247.4 million.

The improvement was especially pronounced in its 2HFY2023, with earnings of $6 million versus $1.4 million reported for 2HFY2022, with contributions from projects newly secured following the pandemic.
“We are pleased to announce a strong set of financial results which attests to the group’s firm recovery from the Covid-19 pandemic,” says executive director Lim Han Ren.

As at end of December, Soilbuild has an order book of around $600 million, consisting of 4 new construction contracts and 19 new precast supply and delivery contracts, with a total value of $396 million. These contracts were all secured within FY2023.

The company plans to pay a first and final dividend of 0.1 cent per share.

Soilbuild shares last traded at 2.9 cents.

See also: City Developments announces new launches, lower interest cover in 1QFY2024 update

 

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