Construction recovery uneven amid manpower, supply constraints
Firms see top, bottom lines increase, but also higher costs, weaker margins
Singapore
WHILE companies within the local construction sector have begun to recover from the effects of the Covid-19 "circuit breaker" measures last year, it seems that the rising tide within the industry has not lifted all boats equally.
For instance, construction and property group Chip Eng Seng posted a 182.2 per cent jump in construction revenue to S$164.6 million for the half-year ended June 30, 2021.It even beat its previous revenue figures from the corresponding period in 2019, when it posted construction revenue of S$82.5 million.
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