CSC Holdings (C06) H1 2026 earnings summary

Executive summary

• H1 FY26 revenue rose 26.4% YoY to $195.3m on higher construction activity; net profit fell 53.9% to $1.2m as gross margin declined and prior-year other income was higher.

• Operating cash flow strengthened to $18.8m, while cash and cash equivalents reached $25.5m; net current liabilities widened to $4.5m at 30 September 2025.

Financial highlights

• Revenue was $195.3m, up 26.4% YoY; gross profit rose 4.5% to $18.3m, while gross margin contracted to 9.4% from 11.4%.

• Operating profit fell 39.1% YoY to $3.5m; profit before tax declined 62.7% to $0.9m, and net profit fell 53.9% to $1.2m.

• EBITDA was $15.3m, down 12.2% YoY; EPS was 0.03 cent versus 0.06 cent in H1 FY25.

• Other income fell 68.8% to $0.4m, mainly due to lower gains on disposal of older equipment; foreign exchange gain was $0.2m versus $2.2m a year earlier.

Outlook and guidance

• More than $170m of new contracts were secured since FY26 began, mainly in public residential projects and pharmaceutical developments; order book was $270m at 31 October 2025, with most work due within 12 months.

• The Singapore construction sector is expected to remain positive over the next 12 months, supported by infrastructure, housing and industrial development; tender activity and competition are expected to intensify.

• Project selection is focused on sound margins and manageable risks amid rising manpower costs; disciplined liquidity and capital management remain priorities.