Surbana Jurong reported $61.6 million in profit after tax for FY2020 ended December, nearly double its FY2019 figure of $36.1 million.
The rise was mirrored in its revenue of $1.708 billion for FY2020, up from $1.677 billion the year prior.
Meanwhile, cost of sales for FY2020 was $1.307 billion, up slightly from FY2019's $1.250 billion.
In its annual report released on July 21, Surbana Jurong reported a spike in FY2020 other income to $87.2 million from $17.6 million in 2019. Government grants contributed the lion’s share of the figure at $82.6 million, compared to just $4.3 million in the year prior.
See: Surbana Jurong transforms green goals into reality
Through the Jobs Support Scheme, Surbana Jurong received wage support of $63.5 million for local employees from the Singapore government.
At the height of the Covid-19 outbreak last year, the infrastructure and urban consultancy company, which is owned by Temasek Holdings, was engaged to set up a community care facility (CCF) at convention centre Singapore Expo.
As at Dec 31, 2020, the Group and the company held cash and cash equivalents of $612.6 million and $16.9 million, respectively. This is in comparison to FY2019’s figures of $362.1 million and $24.3 million respectively.
On Jan 3, 2020, Surbana Jurong, through a subsidiary, acquired a 55% equity interest in Prostruct Consulting, which provides blast consultancy and testing services. From the date of acquisition to Dec 31, 2020, Prostruct contributed revenue of $1.2 million and net profit of $42,000 to the Surbana Jurong’s results.
On Nov 12, 2020, Surbana Jurong, through a subsidiary, acquired a 70% equity interest in Atelier Ten, which provides environmental design consultancy services. From the date of acquisition to Dec 31, 2020, Atelier Ten contributed revenue of $5.8 million and a net loss of $544,000 to Surbana Jurong’s results.
Administrative expenses, which include legal fees for the acquisitions above, stood at $368.1 million for FY2020, up from $352.1 million in FY2019.
Photo: Surbana Jurong
Amendment note: A previous version of this story stated that Atelier Ten contributed revenue of $5.9 million, and administrative expenses for FY2019 were $253.1 million. The story has been edited to reflect these changes.
