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SG Soilbuild's net profit up 42% in Q2

Property Here - Friday, August 02, 2013

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Soilbuild Construction Group has reported a net profit hike of 42 percent to S$5.9 million in Q2 2013, from S$4.2 million a year ago.

Revenue surged 70 percent to S$67.9 million from S$39.9 million during the same period in 2012.

The significant increase was attributed mainly to higher contributions from third-party projects like the condo development Angullia Park, an R&D centre at Changi Business Park and a Tampines HDB project. 

“We are pleased that our decision to look beyond our parent group for projects is bearing fruits in such a two demonstrable manner. The strong contributions from third-party projects underscore our ability to hold our own against stiff competition and to deliver to clients’ satisfaction,” said the company’s Executive Director Ho Toon Bah.

 

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories email romesh@allproperty.com.sg