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Soilbuild posts 37.6% decline in 4Q earnings to $3.5 mil on lower revenue

Michelle Zhu
Michelle Zhu2/22/2017 07:01 PM GMT+08  • 2 min read
Soilbuild posts 37.6% decline in 4Q earnings to $3.5 mil on lower revenue
SINGAPORE (Feb 22): Soilbuild Construction Group reported $3.5 million in earnings for 4Q16, down 37.6% from its net profit of $5.6 million in 4Q15.
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SINGAPORE (Feb 22): Soilbuild Construction Group reported $3.5 million in earnings for 4Q16, down 37.6% from its net profit of $5.6 million in 4Q15.

Revenue for the quarter fell 8.8% to $89.4 million from $98 million a year ago, with major revenue contributors being its projects for Jalan Lam Huat, Yishun HDB, Sembawang HDB, Ang Mo Kio HDB, Goodwood Grand, and the development of a hospice at Thomson Road.

Gross profit declined 33.6% to $5.3 million from $8 million in 4Q15, such that gross profit margin in 4Q fell to 6% from 8.2% in the previous year.

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