Construction recovery uneven amid manpower, supply constraints
Firms see top, bottom lines increase, but also higher costs, weaker margins
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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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