Sichuan Holdings (01420) announced interim results. Net profit attributable to shareholders of SGD 2.371 million increased 36.34% year-on-year

According to the Zhitong Finance App, Sichuan Holdings (01420) announced interim results for the six months ended June 30, 2024. The group obtained revenue of 63.55 million Singapore dollars, a year-on-year decrease of 4.9%; net profit due to company owners was SGD 2.371 million, an increase of 36.34% over the previous year; basic profit per share was 0.19 Singapore cents.

This was due to the Group's strategic decision to prioritize projects with higher profit margins over quantity, and when the project was completed, revenue was slightly reduced to approximately SGD 63.5 million during the reporting period, compared to approximately SGD 66.8 million as of June 30, 2023. Although few projects were completed during the reporting period, the Group's focus on quality and profitability is preparing for stronger long-term growth. In addition, the Group also obtained rental income of SGD 876,000 from investment properties.