BRC Asia revenue contracts 17% YoY in Q3 2024
Their profit after tax stood at $34.1m.
BRC Asia Limited saw its revenue dip 17% on a year-on-year (YoY) in the third quarter ended June (Q3 2024).
This was equivalent to a revenue of $381.7m during the period, which was lower than the $459.8m in the same period last year.
Its profit after tax, however, surged 51.1% YoY to $34.1m. "Included in the 9M2024 and 3Q2024 profit after tax of $72.6m and $34.1m respectively is gain on disposal of an associate of $16.5m," it said in a local bourse filing.
The company attributed its profit surge to its robust sales order book amidst economic uncertainties, which saw $1.3b.
"The duration of projects in our sales order book range up to 5 years and may be subject to further changes," it said. "Going forward, although we continue to expect a steady pipeline of projects to be launched and awarded, particularly from the public sector, project offtake from ongoing projects has remained generally disappointing over the last 6 months,"
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