Revenue in H1 has risen 7 per cent to S$384.7 million, 7 per cent higher than the S$360.2 million figure in the year before
PAN-UNITED Corporation posted a net profit of S$18.6 million in the first half of the year, 34 per cent more than S$13.9 million in the corresponding year-ago period.
Revenue in H1 rose 7 per cent to S$384.7 million, 7 per cent higher than the S$360.2 million figure in the year before.
The increase in revenue was supported by a robust construction industry in Singapore, said Pan-United – which specialises in low-carbon concrete technologies – in a bourse filing on Tuesday (Jul 30).
New HDB developments and the upcoming Cross Island Line as well as the Tuas Port project are expected to contribute to public sector construction demand, said the group. The private sector will continue to be supported by residential developments, development of mixed-use properties and industrial facilities.
In Malaysia, the construction industry is maintaining its positive outlook especially in Johor with demand stemming from data centres, semiconductor factories and industrial parks.
However, with the reduction in diesel subsidies and the imposition of sales tax, the cost of doing business is likely to increase, Pan-United noted.
Earnings per share for H1 stood at 2.66 Singapore cents, up 23 per cent from 2.17 Singapore cents previously.
An interim dividend of S$0.007 was proposed, down from S$0.005 in the previous year.
Pan-United shares closed down 2.83 per cent or S$0.015 to S$0.515 before the announcement.
