Ley Choon Group (Q0X) H2 2026 earnings summary

Executive summary

• FY2026 revenue increased 10.3% to S$144.0m, while lower gross profit, margin compression and higher tax reduced attributable net profit 31.0% to S$10.0m.

• New contract wins of S$138.6m lifted the unfulfilled order book to S$346.3m at 31 March 2026, with projects extending through 2028.

• Operations remained profitable and generated S$9.984m net cash from operating activities; cash and cash equivalents closed at S$10.4m.

Financial highlights

• Revenue was S$143.952m versus S$130.500m in FY2025; gross profit fell to S$24.747m from S$27.001m.

• Profit before tax declined to S$13.240m from S$15.613m; tax expense rose to S$3.240m from S$1.120m, leaving profit for the year at S$10.000m versus S$14.493m.

• Profit attributable to owners was S$9.997m versus S$14.494m; EPS fell to 0.664 Singapore cents from 0.963 cents.

• Total assets increased to S$119.352m from S$97.596m, mainly alongside contract assets rising to S$54.458m from S$27.954m; equity reached S$76.252m.

Outlook and guidance

• Singapore construction demand is forecast at S$47bn–S$53bn for 2026, supported by infrastructure and development projects including Changi Terminal 5 and rail extensions.

• The S$346.3m order book provides revenue visibility through 2028; bidding will remain selective with emphasis on timely delivery, cost control and project margins.

• A new recycling crusher investment was deferred to FY2028 or FY2029, pending relocation of recycling operations and expiry of the current lease.