Soilbuild Construction Group's Q1 net profit down 10.5%

SINGAPORE - Soilbuild Construction Group, the construction arm of Soilbuild Group, posted a first-quarter net profit of S$4 million, a fall of 10.5 per cent.

It was affected by other losses from foreign exchange differences and an increase in other operating expenses.

Revenue soard 45.6 per cent to S$102.5 million for the three months to Mar 31.

Progressive revenue contribution from various projects include a general industrial development at Jalan Lam Huat, and Yishun and Sembwang Housing Board projects.

Quarterly earnings per share was 0.6 cent, down from 0.67 cents a year ago, while net asset value climbed to 14.27 cents as at Mar 31, up from 13.64 cents as at Dec 31.

rachaelb@sph.com.sg