BRC Asia (BEC) H1 2026 earnings summary

Executive summary

• 1H FY2026 revenue reached a record S$931.0m, up 30% YoY; profit for the period rose 24% to S$52.1m, including S$52.0m attributable to owners.

• Higher deliveries, value-added products, international trade and Southern Steel Mesh supported growth; lower steel selling prices partly offset it.

• The S$1.76b order book and strong Singapore construction activity support a cautiously optimistic outlook, tempered by competition, cost inflation and global uncertainty.

Financial highlights

• Revenue rose to S$931.0m from S$715.6m; gross profit increased 38% to S$93.3m from S$67.4m.

• Profit before tax rose 28% to S$65.4m; profit attributable to owners increased 24% to S$52.0m.

• Other income fell 52% to S$3.4m, mainly on lower FX and derivative fair-value gains; finance costs declined 52% to S$1.8m.

• Operating expenses rose 31% to S$31.1m, with distribution expenses up 66% to S$7.0m and administrative expenses up 32% to S$17.5m.

• Operating cash flow was S$67.8m versus an outflow of S$43.5m YoY; cash and cash equivalents were S$197.8m at 31 March 2026.

Outlook and guidance

• Singapore construction demand is forecast at S$47–53b in 2026, supported by public infrastructure, housing and private developments; growth may moderate from last year's pace.

• The S$1.76b order book at 31 March 2026 provides secured work extending up to five years, subject to changes.

• Accelerated deliveries are expected to support earnings momentum through the year ahead; overseas growth, including Malaysia, is expected to complement domestic performance.

• Interim tax-exempt cash dividend of 8 cents per share; book closure and payment dates to be announced.