Nam Lee Pressed Metal Industries (G0I) H1 2025 earnings summary

Executive summary

• H1 revenue rose 26.9% YoY to S$99.5m, driven by construction and reefer container businesses; profit after tax increased to S$11.7m from S$2.6m.

• Gross margin expanded to 23.1% from 15.2%, attributed to a favorable product mix shift and cost efficiency.

Financial highlights

• Revenue was S$99.541m, up 26.9% YoY; gross profit grew 92.9% to S$22.969m.

• Operating profit increased 238.4% to S$14.531m; profit before tax rose 272.1% to S$14.063m.

• Net income was S$11.668m, up 353.3% YoY; income tax expense increased to S$2.395m from S$1.205m.

• Total comprehensive income reached S$10.087m, including S$1.581m foreign currency translation loss.

Outlook and guidance

• Singapore construction demand forecast by BCA for 2025 is S$47bn–S$53bn, versus S$32bn–S$38bn in 2024; 2024 demand was S$44.2bn.

• Approach remains cautious, with emphasis on flexibility, cost discipline and operational efficiency across building products and reefer containers.