CSC Holdings has reversed into black with earnings of $1.9 million for the full year ended March 31, 2025 compared to a loss in the same period a year ago.

 

However, for the 2HFY2025, the group reported a net loss of $266,000.

 

CSC&rsquo s revenue for the full year grew 10.6% y-o-y to $337.8 million, and for the 2HFY2025 grew 15.4% y-o-y to $188.3 million.

 

The company is primarily involved in piling works, civil engineering works, trading and leasing of heavy foundation equipment, soil investigation and surveying works.

 

The growth in revenue is due to higher level of construction activity in Singapore driving increased demand for construction services. CSC Holdings&rsquo order book grew 20%, from $250 million in April 2024 to $300 million in April 2025.

 

Compared to 1HFY25, gross profit margin for 2HFY2025 was lower than the 11.4% in 1HFY2025, taking into account the certain lower-margin projects undertaken in Malaysia.

 

The group recorded a slightly higher other income of $2.3 million for FY2025, mainly due to a higher gain from the disposal of old equipment in FY2025.

 

As part of the group&rsquo s ongoing fleet renewal plan, older equipment is disposed of and replaced with newer and more efficient models. This approach also resulted in higher gain from disposal of old equipment in FY2025.

 

Other operating expenses rose by 6.7% to $25.0 million in FY2025 and by 1.4% to $12.5 million in 2HFY25 (2HFY24: $12.3 million). The increases were in line with the higher business activity, and increased staff costs that reflect annual salary increments aimed at aligning with inflation.

The group also recorded a foreign exchange gain of $1.7 million for FY2025, compared to a loss

of $1.7 million in FY2024, due to the appreciation of the Malaysian Ringgit and Thai Baht against the Singapore Dollar.

 

As at end March, net current liabilities stood at $2.2 million. In FY2025, the group issued $41.3 million in unsecured commercial papers under SDAX CP Facility Programme.

 

Cash and cash equivalents stood at $16.3 million as at end March.

 

The group is cautiously optimistic about the outlook of the operating environment in the year ahead despite construction demand expected to remain strong in Singapore. This is supported by Changi Airport Terminal 5, expansion of the two IRs, and MRT line extensions.

 

On May 14, CSC Holdings substantial shareholders, Chiu Hong Keong and Khoo Yok Kee, acquired 2 million shares of the listed company for a consideration of S$30,000. At a price of 1.5 cents per share, the acquisition increased their total interest in CSC Holdings from 7.98 per cent to 8.06 per cent.

 

Back on Feb 13, CSC Holdings reported that for the 9M FY20 the group recorded net profit before tax of S$5.5 million, a turnaround from a loss before tax of S$10.3 million in 9M FY19.