BRC Asia H2 profit falls 5% to S$52.2 million
[SINGAPORE] Steel solutions provider BRC Asia reported a 5 per cent decrease in net profit for the second half of the year to S$52.2 million, from S$55 million in the year-ago period.
Revenue rose 16 per cent to S$837.4 million, from S$723.1 million in the year before.
This was primarily driven by stronger project offtake in the second half, BRC Asia said on Sunday (Nov 23).
“The growth was partially offset by lower selling prices due to falling steel prices during the period.”
For the full year, net profit stood at S$94.3 million, 1 per cent higher than the S$93.5 million in the financial year ended Sep 30, 2024. Revenue rose 5 per cent to S$1.6 billion, from S$1.5 billion previously.
Earnings per share on a full-year basis rose to S$0.3437, from S$0.3410 in FY2024.
The board is proposing a final cash dividend of S$0.07, down from S$0.08 in 2024.
It also declared a special dividend of S$0.07, up from S$0.06 last year. Including the S$0.06 interim dividend for 2025, this brings the total dividend to S$0.20.
“The group’s strong S$1.9 billion sales order book, supported by major project wins including Changi Airport Terminal 5 substructure, continued to translate into deliveries and earnings, particularly in the second half of the year,” BRC Asia said.
Looking ahead, the group said positive developments across both the public and private sectors continue to support domestic construction demand in Singapore in 2025.
“In particular, the resumption of the multi-billion-dollar Changi Airport Terminal 5 project, following a pandemic-related pause, is expected to substantially lift construction activity over the coming years,” BRC Asia said.
The group continues to strengthen its overseas presence, including the acquisition of Southern Steel Mesh in Malaysia, which extends its presence in the country from the south to both the central and northern regions.
Seah Kiin Peng, BRC Asia’s group chief executive officer, said: “We are encouraged to see positive progress in the growth of domestic construction offtake, which accelerated the conversion of our robust sales order book into deliveries and earnings in the second half of 2025, a trend we expect to continue into the next year.”
Shares of BRC Asia closed down 2 per cent or S$0.08 at S$4.02 on Friday before the announcement.
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