Gross profit rose to $5.4 million, mainly due to improved performance from Pre-finished Pre-fabricated Volumetric Construction (PPVC) projects under the Specialised Engineering Segment, but partially offset by lower profits from General Construction due to a decrease in revenue. Overall gross margin improved to 16.3% from 5.9% as a result of difference in project mix.
SINGAPORE (May 12): BBR Holdings swung back into the black in 1Q, reporting earnings of $5.4 million compared to a net loss of $1.7 million, mainly from improved operating performance and share of associates’ profits.
The group recorded a 59.7% fall in revenue to $33.1 million. This was mainly due to lower revenue from the General Construction Segment but was partially offset by revenue from sale of one condominium unit at Bliss@Kovan under the Property Development Segment.
