BRC Asia Q1 profit after tax rises 13.9% to S$19.5 million
This is despite revenue falling 12.4% year on year to S$349.8 million, from S$399.2 million
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STEEL fabricator BRC Asia on Thursday (Feb 6) announced its profit after tax rose 13.9 per cent to S$19.5 million for the quarter ended Dec 31, 2024, compared to S$17.1 million in the corresponding year-ago period.
This is despite revenue falling 12.4 per cent year on year to S$349.8 million, from S$399.2 million.
Gross profit for the three months was S$28.7 million, sliding 19 per cent from S$35.4 million in Q1 FY2024.
As at Dec 31, 2024, BRC Asia’s cash and cash equivalents stood at S$171.7 million, compared to S$180.7 million in the year-ago period.
The group said that its sales order book stood at around S$1.5 billion as at end-2024. The duration of the projects in its order book is up to five years and may be subject to changes, it added.
For its outlook, BRC Asia said: “The strong forecasts for construction demand in Singapore bode well for the local reinforcing steel industry in the short to medium term.”
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Shares of BRC Asia rose 1.1 per cent or S$0.03 to S$2.87, before the update.
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