Hafary Holdings' revenue jumped 31.3% in HY2013

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Hafary Holdings Limited has announced its unaudited financial results for the six months ended 31 December 2012. 

The Group’s revenue increased by S$10.1 million or 31.3% to S$42.4 million for HY2013 from S$32.3 million for the six months ended 31 December 2011. The revenue growth was driven by an across-the-board increase in sales contributed by its two business segments– General and Project. 

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Revenue from the General segment grew by S$3.4 million or 16.5% to reach S$24.3 million in HY2013. Despite the global economic uncertainty during HY2013, the Group achieved higher sales to General customers, as a result of its successful sales and marketing initiatives to widen its customer base and increase customer loyalty. 

Revenue from the Project segment increased by S$6.7 million or 58.9% from S$11.4 million in HY2012 to S$18.1 million in HY2013. The Group supplied tiles and building materials for several notable development projects during HY2013, including NUH Medical Centre, Fullerton Hotel and IMM Building.

The Group also commenced delivery of surfacing materials for use in a number of Housing Development Board residential estate developments under the Build-To-Order Scheme and Home Improvement Programme. 

The Group’s profit before tax surged by S$25.6 million from S$3.4 million during HY2012 to S$29.0 million during HY2013 and net profit attributable to owners of the parent increased by approximately eight folds from S$2.5 million during HY2012 to S$23.9 million during HY2013. 

The increase was due primarily to recognition of a one-time gain on disposal of development property at 79 Aljunied Road amounting to S$23.8 million.