Singapore's Tiong Seng swings to profit in H1
Singapore's Tiong Seng swings to profit in H1
Overview
Singapore construction and property developer's 1HFY2026 revenue fell 30% yr/yr as projects closed out
Company returned to profit with net profit of S$1.2 mln after prior yr loss
Engineering Solutions segment revenue more than doubled, supporting group turnaround
Outlook
Engineering Solutions order book extends to FY2028; demand expected to stay firm
Result Drivers
ENGINEERING SOLUTIONS GROWTH - Revenue in Engineering Solutions more than doubled, driven by new orders and higher volumes, supporting group turnaround
CONSTRUCTION PROJECTS CLOSEOUT - Construction revenue fell sharply as pre-pandemic projects reached completion, narrowing segment losses
Company press release: ID:nSN4N9x5f
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Revenue |
| S$84 mln |
|
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)