With the resumption of construction activities in Singapore, concrete and cement provider Pan United Corp has reported a 45% y-o-y jump in revenue to $276.6 million for 1HFY2021.
However, costs, ranging from wages, raw materials, and so on, increased as well, reaching what the company calls “pre-Covid” levels.
As such, earnings in the same period surged from $277,000 to just below $7 million.
Citing overall industry estimates provided by the Building and Construction Authority, Pan United notes that construction activity this year will remain healthy and be driven by public sector projects.
However, it warns that there’s manpower shortage and import of raw materials might be further disrupted if lockdowns are extended in other countries.
The company plans to pay an interim dividend of 0.5 cents per share. It didn't pay any this time last year.
Pan United closed Aug 3 at 31 cents, down 1.59% for the day and up 6.9% year to date.
