GRP (BLU) Q1 2025 earnings summary

Executive summary

• Q1 FY2025 revenue fell 2.5% YoY to S$4.97m; gross profit rose 5.0% to S$1.54m, while continuing operations recorded a S$114k net loss.

• Total comprehensive income was S$912k, driven by S$1.03m of currency translation gains.

Financial highlights

• Revenue was S$4.966m versus S$5.092m YoY; gross profit increased to S$1.541m from S$1.468m.

• Loss before tax was S$1k, versus S$153k profit YoY; income tax expense was S$113k and total period loss was S$114k.

• Owners’ loss was S$47k; discontinued operations contributed a S$61k loss, including a S$87k disposal loss.

• Net cash from operating activities was S$31k versus S$1.087m used YoY; net cash increased S$601k to S$18.285m.

Outlook and guidance

• Market conditions remain challenging; efforts will focus on resolving issues with the delayed affordable housing project.

• Cash and bank balances will be preserved amid market uncertainty and affordable housing project delays; no dividend was declared.