by millionairemind » Wed Feb 24, 2010 6:25 pm
February 24, 2010, 6.10 pm (Singapore time)
BBR's FY09 net profit jumps on higher value projects
By UMA SHANKARI
Construction and property group BBR Holdings on Wednesday reported a net profit of S$13.4 million for the full year ended December 2009, an increase of 266 per cent from S$3.7 million in 2008.
Group revenue for the period was S$205.4 million, a decline of 19 per cent from S$253.9 million the preceding year. This was largely as a result of a 22 per cent decline in revenue from the group's general construction arm.
But profit was up on stronger gross profit margins from specialised engineering projects in Singapore and Malaysia, lower cost of raw materials and rigorous cost monitoring efforts that kept project costs down, BBR said.
Earnings per share for the year rose to 0.87 Singapore cents, from 0.24 Singapore cents in 2008 - a jump of 263 per cent.
'We are pleased with our results, which show a steady growth momentum,' said chief executive Andrew Tan. 'Looking ahead, we see opportunities to continue to maintain our profitability and sustain growth in our core businesses
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