Soilbuild posts 13% rise in Q3 earnings

SOILBUILD Construction Group's third-quarter net profit rose 13 per cent year on year to $6.32 million, on the back of healthy progress in its construction projects.

Executive director Ho Toon Bah said: "While industry-wide challenges such as rising labour costs and constraints are inevitable, we are pleased to say that our ability to execute our projects efficiently and effectively has led to another quarter of commendable results. This marks nine months of continuous growth for the group."

New construction projects helped its July-September turnover rise 44 per cent to $84.54 million in the reporting quarter. The projects include a mixed-used development at Lavender, an HDB project in Tampines, a research and development building at Changi Business Park, and a ramp-up industrial development at Mandai Link.