BBR Holdings swings to loss on lower sales, absence of profits from Lakelife condo

BBR Holdings, a construction and property firm, on Monday said that it swung into a full-year net loss amid lower sales and an absence of development profits from the sale of Lakelife Executive Condominium.

Net loss for the 12 months ended Dec 3, 2018 stood at S$3.36 million, reversing from a net profit of S$10.4 million.

Revenue fell 39.7 per cent to S$118 million, reflecting lower sales from its general construction and specialised engineering segments.

Its share of results of associates for fiscal 2018 was S$0.1 million compared with S$7.4 million in FY2017 as development profits from the sale of Lakelife Executive Condominium that were substantially recognised in the previous financial years.