Soilbuild Construction Q2 profit up 5% at S$5.51m

Singapore

SOILBUILD Construction's net profit for the second quarter ended June rose 5 per cent from S$5.24 million to S$5.51 million on the back of a 21 per cent jump in revenue to S$81.63 million. This was due to progressive revenue contributions from certain projects, which included Jalan Lam Huat project (a multiple-user general industrial development at 60 Jalan Lam Huat) and Xin Ming Hua project (an industrial development at Tuas Crescent).

For the six months ended June, net profit was S$9.97 million, up 9 per cent from S$9.11 million a year ago. Revenue slipped 2 per cent to S$152.05 million. The board of directors have declared an interim dividend of 0.5 Singapore cent per share.