EnGro Corporation (S44) H1 2025 earnings summary

Executive summary

• Revenue increased 25.0% YoY to $104.5m, led by stronger Integral Cement and Ready-Mix Concrete sales in Singapore and Malaysia.

• Net profit rose to $8.7m from $20,000; higher ICR profitability and investment fair-value gains helped, while a net exchange loss partly offset the improvement.

Financial highlights

• Revenue was $104.473m versus $83.599m; results from operating activities were $8.941m versus a loss of $0.231m.

• Profit before tax reached $8.804m versus $0.500m; profit for the period was $8.652m versus $0.020m.

• Net cash from operating activities was $12.864m versus a $7.149m outflow; cash and cash equivalents were $62.037m at 30 June 2025.

• Other expenses increased 40.8% to $17.116m, while net change in fair value of financial assets was a gain of $6.086m versus a loss of $2.564m.

Outlook and guidance

• ICR outlook is optimistic on Singapore public-sector demand and Malaysia industrial and transport infrastructure investment; competition and project delays may constrain sales.

• Specialty Polymer is diversifying customers and applications; ongoing tariff disputes are expected to affect automotive sales.

• China real estate and infrastructure remain sluggish amid oversupply, leaving China GGBS profitability challenged near term.