Soilbuild Construction posts 15% rise in Q1 profit

SOILBUILD Construction Group posted a 15 per cent year-on-year increase in net profit to S$4.43 million for the first quarter ended March 31, 2015, even as revenue fell 19 per cent to S$70.42 million.

However, cost of sales was also lower during the quarter under review, declining 22 per cent to S$63.1 million. This resulted in a 16 per cent rise in gross profit to S$7.32 million.

Earnings per share for the quarter came to 0.67 Singapore cent, up from 0.58 Singapore cent a year ago.

The group said it will continue to seek opportunities for new construction projects both locally and in Myanmar.