Bukit Sembawang Estates has reported earnings of $62.9 million for the 1HFY2025 ended Sept 30, up 149% y-o-y from $25.2 million in the same period last year.
Revenue for the first half of the year similarly rose by 23% y-o-y to $324 million, while costs of sales increased by 8% y-o-y to $251.5 million as compared to 1HFY2024.
For the period, the group’s gross profit stood at $72.5 million, up 128% y-o-y. This was due to higher profit recognised on development projects. In 1HFY2025, profits were recognised for Pollen Collection, The Atelier, LIV@MB and Fraser Residence Orchard, Singapore.
Other income in 1HFY2025 increased by $100,000, driven by income derived from modification works during the period.
Bukit Sembawang’s earnings per share for 1HFY2025 came in at 24.30 cents, compared to 9.74 cents in 1HFY2024.
As at Sept 30, the group’s total assets increased to $1,626 million, up 1.7% from $1,598.6 million as at March 31. This came on the back of an increase in contract assets, and cash and cash equivalents offset against the decrease in deferred tax assets, development properties and contract costs.
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For the period, the group’s liabilities was up 7.5% y-o-y at $84.6 million, due to an increase in deferred tax liabilities and trade and other payables offset against the decrease in contract liabilities.
Bukit Sembawang’s cash and cash equivalents stood at $536.6 m as at Sept 30.
Shares in Bukit Sembawang B61 Estates closed 1 cent higher, or up 0.28%, at $3.56 on Nov 12.
