SoilBuild Q2 profit down 70%

SOILBUILD Construction Group on Monday reported a 70 per cent fall in net profit for the second quarter ended June 30 to S$0.6 million, down from S$2.183 million a year ago.

This came on the back of a 54.1 per cent fall in revenue to S$48 million from S$S$105 million last year. The company attributed this to the completion of various projects in Singapore, which have just started to contribute revenue in the current quarter.

Earnings per share were 0.10 Singapore cent per share, verus the previous year's 0.33 Singapore cent.

No dividends have been declared for the period.