BRC Asia Q1 profit after tax rises 13.9% to S$19.5 million

This is despite revenue falling 12.4% year on year to S$349.8 million, from S$399.2 million

STEEL fabricator BRC Asia on Thursday (Feb 6) announced its profit after tax rose 13.9 per cent to S$19.5 million for the quarter ended Dec 31, 2024, compared to S$17.1 million in the corresponding year-ago period.

This is despite revenue falling 12.4 per cent year on year to S$349.8 million, from S$399.2 million.

Gross profit for the three months was S$28.7 million, sliding 19 per cent from S$35.4 million in Q1 FY2024.

As at Dec 31, 2024, BRC Asia’s cash and cash equivalents stood at S$171.7 million, compared to S$180.7 million in the year-ago period.

The group said that its sales order book stood at around S$1.5 billion as at end-2024. The duration of the projects in its order book is up to five years and may be subject to changes, it added.

For its outlook, BRC Asia said: “The strong forecasts for construction demand in Singapore bode well for the local reinforcing steel industry in the short to medium term.”

Shares of BRC Asia rose 1.1 per cent or S$0.03 to S$2.87, before the update.

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