PanUnited P52

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Financials

Annual Report 2025

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20 tables

Consolidated Income Statement

17 metrics

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Consolidated Income Statement from Annual Report 2025
Metric / unit	2025Group	2024Group	Source
Financial statements
Revenue$’000	898,436	812,297	PDF p. 30
Other income$’000	4,253	3,651	PDF p. 30
Raw materials, subcontract costs and other direct costs$’000	(684,888)	(636,540)	PDF p. 30
Staff costs$’000	(71,045)	(58,031)	PDF p. 30
Depreciation and amortisation expenses$’000	(32,556)	(24,190)	PDF p. 30
Reversal/(impairment loss) on financial assets$’000	523	(738)	PDF p. 30
Other expenses$’000	(46,669)	(44,127)	PDF p. 30
Finance costs$’000	(3,668)	(3,447)	PDF p. 30
Share of results of associate$’000	1,184	2,456	PDF p. 30
Profit before tax$’000	65,570	51,331	PDF p. 30
Income tax expense$’000	(14,266)	(10,151)	PDF p. 30
Profit for the year, net of tax$’000	51,304	41,180	PDF p. 30
Equity holders of the Company$’000	50,714	40,855	PDF p. 30
Non-controlling interests$’000	590	325	PDF p. 30
Profit for the year, net of tax$’000	51,304	41,180	PDF p. 30
Earnings per share — attributable to equity holders of the Company
Basiccents per share	7.25	5.85	PDF p. 30
Dilutedcents per share	7.24	5.84	PDF p. 30

Definitions & sources

Original report: PDF p. 30 ↗

Printed share-earnings rows are cents per share; other figures are $’000.

Consolidated Statement of Comprehensive Income

9 metrics

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Consolidated Statement of Comprehensive Income from Annual Report 2025
Metric / unit	2025Group	2024Group	Source
Financial statements
Profit for the year, net of tax$’000	51,304	41,180	PDF p. 30
Foreign exchange differences on translation of foreign operations$’000	783	4,350	PDF p. 30
Realisation of reserves to income statement on disposal and liquidation of subsidiaries$’000	–	(56)	PDF p. 30
Fair value changes of derivatives$’000	(3,837)	4,988	PDF p. 30
Other comprehensive (loss)/income for the year, net of tax$’000	(3,054)	9,282	PDF p. 30
Total comprehensive income for the year$’000	48,250	50,462	PDF p. 30
Equity holders of the Company$’000	48,022	50,168	PDF p. 30
Non-controlling interests$’000	228	294	PDF p. 30
Total comprehensive income for the year$’000	48,250	50,462	PDF p. 30

Definitions & sources

Original report: PDF p. 30 ↗

Statements of Financial Position — Group and Company

35 metrics

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Statements of Financial Position — Group and Company from Annual Report 2025
Metric / unit	2025Group	2024Group	2025Company	2024Company	Source
Financial statements
Property, plant and equipment$’000	208,782	172,322	43	45	PDF p. 31
Intangible assets$’000	5,325	6,879	188	208	PDF p. 31
Subsidiaries$’000	–	–	92,752	92,752	PDF p. 31
Associate$’000	2,797	3,952	–	–	PDF p. 31
Other receivables$’000	111	121	–	–	PDF p. 31
Deferred tax assets$’000	653	2,243	–	–	PDF p. 31
Subtotal$’000	217,668	185,517	92,983	93,005	PDF p. 31
Inventories$’000	23,177	25,464	–	–	PDF p. 31
Prepayments$’000	6,958	2,747	250	209	PDF p. 31
Trade and other receivables$’000	185,675	169,309	44,298	37,212	PDF p. 31
Other assets$’000	10,520	6,014	–	–	PDF p. 31
Derivatives$’000	–	3,687	–	3,687	PDF p. 31
Cash and cash equivalents$’000	99,787	107,011	67,172	87,877	PDF p. 31
Subtotal$’000	326,117	314,232	111,720	128,985	PDF p. 31
Loans and borrowings$’000	10,465	13,354	–	–	PDF p. 31
Lease liabilities$’000	6,689	7,262	–	–	PDF p. 31
Payables and accruals$’000	158,804	146,125	48,386	59,986	PDF p. 31
Deferred income$’000	852	1,113	–	–	PDF p. 31
Provisions$’000	8,626	2,078	–	–	PDF p. 31
Income tax payable$’000	13,717	11,000	252	198	PDF p. 31
Derivatives$’000	150	–	150	–	PDF p. 31
Subtotal$’000	199,303	180,932	48,788	60,184	PDF p. 31
Net current assets$’000	126,814	133,300	62,932	68,801	PDF p. 31
Loans and borrowings$’000	–	2,047	–	–	PDF p. 31
Lease liabilities$’000	31,638	33,428	–	–	PDF p. 31
Provisions$’000	7,942	4,595	–	–	PDF p. 31
Deferred tax liabilities$’000	9,078	7,829	–	–	PDF p. 31
Subtotal$’000	48,658	47,899	–	–	PDF p. 31
Net assets$’000	295,824	270,918	155,915	161,806	PDF p. 31
Share capital$’000	12,645	12,645	12,645	12,645	PDF p. 31
Treasury shares$’000	(1,235)	(1,547)	(1,235)	(1,547)	PDF p. 31
Reserves$’000	278,996	254,206	144,505	150,708	PDF p. 31
Subtotal$’000	290,406	265,304	155,915	161,806	PDF p. 31
Non-controlling interests$’000	5,418	5,614	–	–	PDF p. 31
Total equity$’000	295,824	270,918	155,915	161,806	PDF p. 31

Definitions & sources

Original report: PDF p. 31 ↗

No total assets row appears in the printed audited position statement; do not derive or add one.

Statements of Changes in Equity — Group FY2025

13 metrics

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Statements of Changes in Equity — Group FY2025 from Annual Report 2025
Metric / unit	2025GroupShare capital	2025GroupTreasury shares	2025GroupForeign currency translation reserve	2025GroupRetained earnings	2025GroupOther reserves	2025GroupTotal reserves	2025GroupNon-controlling interests	2025GroupTotal equity	Source
Financial statements
Balance at 1 January 2025$’000	12,645	(1,547)	(1,029)	214,364	40,871	254,206	5,614	270,918	PDF p. 31
Profit for the year$’000	–	–	–	50,714	–	50,714	590	51,304	PDF p. 31
Foreign currency translation$’000	–	–	1,145	–	–	1,145	(362)	783	PDF p. 31
Fair value changes of derivatives$’000	–	–	–	–	(3,837)	(3,837)	–	(3,837)	PDF p. 31
Other comprehensive income/(loss), net of tax$’000	–	–	1,145	–	(3,837)	(2,692)	(362)	(3,054)	PDF p. 31
Total comprehensive income for the year$’000	–	–	1,145	50,714	(3,837)	48,022	228	48,250	PDF p. 31
Share-based payment$’000	–	–	–	–	242	242	–	242	PDF p. 31
Purchase of treasury shares$’000	–	(775)	–	–	–	–	–	(775)	PDF p. 31
Reissuance of treasury shares$’000	–	1,087	–	–	(439)	(439)	–	648	PDF p. 31
Dividends on ordinary shares$’000	–	–	–	(23,035)	–	(23,035)	–	(23,035)	PDF p. 31
Total transactions with equity holders$’000	–	312	–	(23,035)	(197)	(23,232)	–	(22,920)	PDF p. 31
Dividends paid to non-controlling interests$’000	–	–	–	–	–	–	(424)	(424)	PDF p. 31
Balance at 31 December 2025$’000	12,645	(1,235)	116	242,043	36,837	278,996	5,418	295,824	PDF p. 31

Definitions & sources

Original report: PDF p. 31 ↗

Source comparative equity is a separate FY2024 rollforward on physical p32.

Statements of Changes in Equity — Group FY2024

14 metrics

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Statements of Changes in Equity — Group FY2024 from Annual Report 2025
Metric / unit	2024GroupShare capital	2024GroupTreasury shares	2024GroupForeign currency translation reserve	2024GroupRetained earnings	2024GroupOther reserves	2024GroupTotal reserves	2024GroupNon-controlling interests	2024GroupTotal equity	Source
Financial statements
Balance at 1 January 2024$’000	12,645	(2,472)	(5,354)	190,953	36,047	221,646	5,744	237,563	PDF p. 32
Profit for the year$’000	–	–	–	40,855	–	40,855	325	41,180	PDF p. 32
Foreign currency translation$’000	–	–	4,381	–	–	4,381	(31)	4,350	PDF p. 32
Realisation of reserves on disposal and liquidation of subsidiary$’000	–	–	(56)	–	–	(56)	–	(56)	PDF p. 32
Fair value changes of derivatives$’000	–	–	–	–	4,988	4,988	–	4,988	PDF p. 32
Other comprehensive income for the year, net of tax$’000	–	–	4,325	–	4,988	9,313	(31)	9,282	PDF p. 32
Total comprehensive income for the year$’000	–	–	4,325	40,855	4,988	50,168	294	50,462	PDF p. 32
Share-based payment$’000	–	–	–	–	151	151	–	151	PDF p. 32
Purchase of treasury shares$’000	–	(781)	–	–	–	–	–	(781)	PDF p. 32
Reissuance of treasury shares$’000	–	1,706	–	–	(315)	(315)	–	1,391	PDF p. 32
Dividends on ordinary shares$’000	–	–	–	(17,444)	–	(17,444)	–	(17,444)	PDF p. 32
Total transactions with equity holders$’000	–	925	–	(17,444)	(164)	(17,608)	–	(16,683)	PDF p. 32
Dividends paid to non-controlling interests$’000	–	–	–	–	–	–	(424)	(424)	PDF p. 32
Balance at 31 December 2024$’000	12,645	(1,547)	(1,029)	214,364	40,871	254,206	5,614	270,918	PDF p. 32

Definitions & sources

Original report: PDF p. 32 ↗

Statements of Changes in Equity — Company FY2025

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Statements of Changes in Equity — Company FY2025 from Annual Report 2025
Metric / unit	2025CompanyShare capital	2025CompanyTreasury shares	2025CompanyRetained earnings	2025CompanyOther reserves	2025CompanyTotal reserves	2025CompanyTotal equity	Source
Financial statements
Balance at 1 January 2025$’000	12,645	(1,547)	109,837	40,871	150,708	161,806	PDF p. 32
Reclassification between reserves$’000	–	–	3,687	(3,687)	–	–	PDF p. 32
Profit representing total comprehensive income for the year$’000	–	–	17,029	–	17,029	17,029	PDF p. 32
Share-based payment$’000	–	–	–	242	242	242	PDF p. 32
Purchase of treasury shares$’000	–	(775)	–	–	–	(775)	PDF p. 32
Reissuance of treasury shares$’000	–	1,087	–	(439)	(439)	648	PDF p. 32
Dividends on ordinary shares$’000	–	–	(23,035)	–	(23,035)	(23,035)	PDF p. 32
Total transactions with equity holders$’000	–	312	(23,035)	(197)	(23,232)	(22,920)	PDF p. 32
Balance at 31 December 2025$’000	12,645	(1,235)	107,518	36,987	144,505	155,915	PDF p. 32

Definitions & sources

Original report: PDF p. 32 ↗

Statements of Changes in Equity — Company FY2024

11 metrics

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Statements of Changes in Equity — Company FY2024 from Annual Report 2025
Metric / unit	2024CompanyShare capital	2024CompanyTreasury shares	2024CompanyRetained earnings	2024CompanyOther reserves	2024CompanyTotal reserves	2024CompanyTotal equity	Source
Financial statements
Balance at 1 January 2024$’000	12,645	(2,472)	98,246	36,047	134,293	144,466	PDF p. 32
Profit for the year$’000	–	–	29,035	–	29,035	29,035	PDF p. 32
Fair value changes of derivatives$’000	–	–	–	4,988	4,988	4,988	PDF p. 32
Other comprehensive income for the year, net of tax$’000	–	–	–	4,988	4,988	4,988	PDF p. 32
Total comprehensive income for the year$’000	–	–	29,035	4,988	34,023	34,023	PDF p. 32
Share-based payment$’000	–	–	–	151	151	151	PDF p. 32
Purchase of treasury shares$’000	–	(781)	–	–	–	(781)	PDF p. 32
Reissuance of treasury shares$’000	–	1,706	–	(315)	(315)	1,391	PDF p. 32
Dividends on ordinary shares$’000	–	–	(17,444)	–	(17,444)	(17,444)	PDF p. 32
Total transactions with equity holders$’000	–	925	(17,444)	(164)	(17,608)	(16,683)	PDF p. 32
Balance at 31 December 2024$’000	12,645	(1,547)	109,837	40,871	150,708	161,806	PDF p. 32

Definitions & sources

Original report: PDF p. 32 ↗

Consolidated Cash Flow Statement

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Consolidated Cash Flow Statement from Annual Report 2025
Metric / unit	2025Group	2024Group	Source
Financial statements
Profit before tax$’000	65,570	51,331	PDF p. 33
Depreciation of property, plant and equipment$’000	30,236	21,473	PDF p. 33
Amortisation of intangible assets$’000	2,320	2,717	PDF p. 33
Amortisation of upfront fees$’000	87	95	PDF p. 33
Interest income$’000	(1,165)	(798)	PDF p. 33
Interest expense$’000	3,279	2,979	PDF p. 33
Adjustments for operating cash flows
Loss on disposal of property, plant and equipment, net$’000	95	70	PDF p. 33
(Reversal)/impairment loss on financial assets$’000	(523)	738	PDF p. 33
Financial statements
Impairment loss in associate$’000	–	1,258	PDF p. 33
Gain on early termination of lease liabilities$’000	(50)	–	PDF p. 33
Write-down of inventories$’000	–	21	PDF p. 33
Adjustments for operating cash flows
Write-off of property, plant and equipment$’000	992	1,486	PDF p. 33
Financial statements
Write-off of intangible assets$’000	1,348	91	PDF p. 33
Share-based payment expenses$’000	242	151	PDF p. 33
Share of results of associate$’000	(1,184)	(2,456)	PDF p. 33
Foreign exchange differences$’000	574	1,266	PDF p. 33
Operating cash flows before changes in working capital$’000	101,821	80,422	PDF p. 33
Trade and other receivables$’000	(15,891)	12,888	PDF p. 33
Prepayments$’000	(4,212)	(762)	PDF p. 33
Inventories$’000	2,435	(6,582)	PDF p. 33
Other assets$’000	(4,506)	1,467	PDF p. 33
Payables, accruals and provisions$’000	11,326	11,283	PDF p. 33
Deferred income$’000	(227)	428	PDF p. 33
Cash flows from operations$’000	90,746	99,144	PDF p. 33
Interest paid$’000	(3,222)	(2,921)	PDF p. 33
Income tax paid$’000	(8,710)	(9,038)	PDF p. 33
Interest received$’000	1,143	798	PDF p. 33
Net cash flows from operating activities$’000	79,957	87,983	PDF p. 33
Additions to property, plant and equipment$’000	(47,967)	(16,257)	PDF p. 33
Additions to intangible assets$’000	(2,114)	(2,348)	PDF p. 33
Proceeds from disposal of property, plant and equipment$’000	77	197	PDF p. 33
Net cash on disposal of subsidiary$’000	–	1,000	PDF p. 33
Dividend income from associate$’000	2,339	2,675	PDF p. 33
Net cash flows used in investing activities$’000	(47,665)	(14,733)	PDF p. 33
Proceeds from bank borrowings$’000	6,995	18,723	PDF p. 33
Repayment of bank borrowings$’000	(12,430)	(25,408)	PDF p. 33
Payment of principal portion of lease liabilities$’000	(9,689)	(7,553)	PDF p. 33
Purchase of treasury shares$’000	(775)	(781)	PDF p. 33
Proceeds from reissuance of treasury shares$’000	648	1,391	PDF p. 33
Dividends paid to shareholders$’000	(23,035)	(17,444)	PDF p. 33
Dividends paid to non-controlling interests$’000	(424)	(424)	PDF p. 33
Net cash flows used in financing activities$’000	(38,710)	(31,496)	PDF p. 33
Net (decrease)/increase in cash and cash equivalents$’000	(6,418)	41,754	PDF p. 33
Cash and cash equivalents at beginning of year$’000	107,011	64,373	PDF p. 33
Effects of exchange rate changes on opening cash and cash equivalents$’000	(806)	884	PDF p. 33
Cash and cash equivalents at end of year$’000	99,787	107,011	PDF p. 33
Additions to property, plant and equipment — Note A reconciliation$’000	65,963	29,144	PDF p. 33
Less: Non-cash additions to right-of-use assets$’000	(7,428)	(12,324)	PDF p. 33
Less: Provision for reinstatement cost during the financial year$’000	(10,568)	(563)	PDF p. 33
Subtotal$’000	47,967	16,257	PDF p. 33

Definitions & sources

Original report: PDF p. 33 ↗

Note A PPE additions reconciliation retained as supplemental rows.

Group Financial Summary

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Group Financial Summary from Annual Report 2025
Metric / unit	2025Group	2024Group	2025Change (%)	Source
Financial statements
RevenueS$’000	898,436	812,297	11	PDF p. 3
EBITDAS$’000	99,056	75,246	32	PDF p. 3
Profit before taxationS$’000	65,570	51,331	28	PDF p. 3
Profit after taxationS$’000	51,304	41,180	25	PDF p. 3
PATMIS$’000	50,714	40,855	24	PDF p. 3
Shareholders’ fundsS$’000	290,406	265,304	9	PDF p. 3
Non-controlling interestsS$’000	5,418	5,614	(3)	PDF p. 3
Total equityS$’000	295,824	270,918	9	PDF p. 3
Total assetsS$’000	543,785	499,749	9	PDF p. 3
Total liabilitiesS$’000	247,961	228,831	8	PDF p. 3
Basic earnings per share — attributable to equity holders (cents)cents per share	7.25	5.85	24	PDF p. 3
Diluted earnings per share — attributable to equity holders (cents)cents per share	7.24	5.84	24	PDF p. 3
Net asset value at 31 December (cents)cents per share	41.50	38.00	9	PDF p. 3
Return on shareholders’ funds (%)%	18.3%	16.4%	12	PDF p. 3
Return on property, plant and equipment (%)%	26.9%	24.5%	10	PDF p. 3
Net gearing ratioratio; change not meaningful	-	-	NM	PDF p. 3

Definitions & sources

Original report: PDF p. 3 ↗

First two columns are FY2025/FY2024 original figures using each row’s unit; third column is the original rounded Change (%) column, not a monetary amount. NM is retained.

Segmental Information — source chart values

9 metrics

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Segmental Information — source chart values from Annual Report 2025
Metric / unit	2025Group segmental result	2024Group segmental result	Source
Segmental Information chart
Revenue — Concrete & Cement segment ($ million)$ million	889.81	798.19	PDF p. 3
Revenue — Trading & Others segment ($ million)$ million	8.63	14.11	PDF p. 3
Revenue — total ($ million)$ million	898.44	812.30	PDF p. 3
EBITDA — Concrete & Cement segment ($ million)$ million	98.28	72.00	PDF p. 3
EBITDA — Trading & Others segment ($ million)$ million	0.78	3.25	PDF p. 3
EBITDA — total ($ million)$ million	99.06	75.25	PDF p. 3
Original Segmental Information — PATMI chart table
PATMI — Concrete & Cement segment ($ million)$ million	50.67	38.49	PDF p. 3
PATMI — Trading & Others segment ($ million)$ million	0.04	2.37	PDF p. 3
PATMI — total ($ million)$ million	50.71	40.86	PDF p. 3

Definitions & sources

Original report: PDF p. 3 ↗

Original segment tables print Revenue, EBITDA and PATMI for FY2025/FY2024, rounded to SGD million. Pie percentages are separately retained as printed rounded annotations; they do not replace exact source statement amounts.

Proposed final dividend per share

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Proposed final dividend per share from Annual Report 2025
Metric / unit	2025Company; proposed at AGM	Source
AGM proposed dividend
Final dividend per ordinary shareS$ per ordinary share	0.035	PDF p. 54

Definitions & sources

Original report: PDF p. 54 ↗

AGM proposal, not represented as cash paid in FY2025.

Segment revenue and EBITDA — rounded chart contributions

4 metrics

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Segment revenue and EBITDA — rounded chart contributions from Annual Report 2025
Metric / unit	2025Group segmental contribution	2024Group segmental contribution	Source
Original pie chart rounded percentage
Revenue — Concrete & Cement%	99%	98%	PDF p. 3
Revenue — Trading & Others%	1%	2%	PDF p. 3
EBITDA — Concrete & Cement%	99%	96%	PDF p. 3
EBITDA — Trading & Others%	1%	4%	PDF p. 3

Definitions & sources

Original report: PDF p. 3 ↗

Percentages are original rounded chart annotations. FY2025 PATMI Trading & Others has no printed percentage; no 0% value is inferred.

Segment PATMI — Concrete & Cement rounded chart contribution

1 metrics

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Segment PATMI — Concrete & Cement rounded chart contribution from Annual Report 2025
Metric / unit	2025Group segmental contribution	2024Group segmental contribution	Source
Original pie chart rounded percentage
PATMI — Concrete & Cement%	100%	94%	PDF p. 3

Definitions & sources

Original report: PDF p. 3 ↗

Percentages are original rounded chart annotations. FY2025 PATMI Trading & Others has no printed percentage; no 0% value is inferred.

Segment PATMI — Trading & Others rounded chart contribution

1 metrics

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Segment PATMI — Trading & Others rounded chart contribution from Annual Report 2025
Metric / unit	2024Group segmental contribution	Source
Original pie chart rounded percentage
PATMI — Trading & Others%	6%	PDF p. 3

Definitions & sources

Original report: PDF p. 3 ↗

Percentages are original rounded chart annotations. FY2025 PATMI Trading & Others has no printed percentage; no 0% value is inferred.

Dividends — Note 35 declared, paid and proposed

5 metrics

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Dividends — Note 35 declared, paid and proposed from Annual Report 2025
Metric / unit	2025Group and Company	2024Group and Company	Source
Declared and paid during the year
Final exempt (one-tier) dividend for previous financial year$’000	16,055	12,559	PDF p. 53
Interim exempt (one-tier) dividend for current financial year$’000	6,980	4,885	PDF p. 53
Declared and paid during the year — unlabeled subtotal
Subtotal$’000	23,035	17,444	PDF p. 53
Proposed but not recognised as a liability as at 31 December
Final exempt (one-tier) dividend for current financial year$’000	24,480	16,062	PDF p. 53
Total dividend per share, including proposed final
Total dividend per share for the year (in cents)cents per share	4.50	3.00	PDF p. 53

Definitions & sources

Original report: PDF p. 53 ↗

Cash columns use payment/report years. FY2025 paid final relates to FY2024; FY2024 paid final relates to FY2023. Proposed final amounts are not year-end liabilities. Total dividend per share is stated in cents and includes proposed final dividends.

Prior-year final dividends paid — per share by dividend year

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Prior-year final dividends paid — per share by dividend year from Annual Report 2025
Metric / unit	2024Group and Company; dividend entitlement year	2023Group and Company; dividend entitlement year	Source
Final dividend — dividend entitlement year
Final exempt (one-tier) dividend per share paid in following financial yearcents per share	2.30	1.80	PDF p. 53

Definitions & sources

Original report: PDF p. 53 ↗

FY2024 final was paid during FY2025; FY2023 final was paid during FY2024. These are not additional distributions beyond the cash rows in Note 35.

Current-year interim and proposed final dividends — per share

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Current-year interim and proposed final dividends — per share from Annual Report 2025
Metric / unit	2025Group and Company; dividend entitlement year	2024Group and Company; dividend entitlement year	Source
Current-year interim dividend
Interim exempt (one-tier) dividend per sharecents per share	1.00	0.70	PDF p. 53
Proposed final dividend — not year-end liability
Final exempt (one-tier) dividend per share proposedcents per share	3.50	2.30	PDF p. 53

Definitions & sources

Original report: PDF p. 53 ↗

Final dividends were proposed and subject to shareholders’ approval as stated in the report; subsequent approval/payment is not inferred.

Earnings per share — Note 9

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Earnings per share — Note 9 from Annual Report 2025
Metric / unit	2025Group	2024Group	Source
Earnings per share — Note 9
Profit attributable to equity holders used for basic and diluted earnings per share$’000	50,714	40,855	PDF p. 42

Definitions & sources

Original report: PDF p. 42 ↗

Weighted-average shares and earnings per share — Note 9

5 metrics

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Weighted-average shares and earnings per share — Note 9 from Annual Report 2025
Metric / unit	2025Group	2024Group	Source
Weighted-average shares and earnings per share — Note 9
Weighted average ordinary shares for basic earnings per shareshares thousand	699,434	698,354	PDF p. 42
Effect of dilution on share optionsshares thousand	1,047	1,173	PDF p. 42
Weighted average ordinary shares for diluted earnings per shareshares thousand	700,481	699,527	PDF p. 42
Basic earnings per sharecents per share	7.25	5.85	PDF p. 42
Diluted earnings per sharecents per share	7.24	5.84	PDF p. 42

Definitions & sources

Original report: PDF p. 42 ↗

Cash and cash equivalents — Note 18

3 metrics

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Cash and cash equivalents — Note 18 from Annual Report 2025
Metric / unit	2025Group	2024Group	2025Company	2024Company	Source
Cash and cash equivalents — Note 18
Cash at banks and on hand$’000	89,280	81,424	57,163	62,833	PDF p. 46
Short-term deposits$’000	10,507	25,587	10,009	25,044	PDF p. 46
Cash and cash equivalents$’000	99,787	107,011	67,172	87,877	PDF p. 46

Definitions & sources

Original report: PDF p. 46 ↗

Where the money comes from

Segment information

By business

Business segments – year ended 31 December 23 lines

Business segments – year ended 31 December
Item / unit	2025Concrete and Cement segment, $'000	2025Trading and Others segment, $'000	2025Eliminations, $'000	2025Group, $'000	2024Concrete and Cement segment, $'000	2024Trading and Others segment, $'000	2024Eliminations, $'000	2024Group, $'000	Source
Revenue
External sales$'000	889,805	8,631	–	898,436	798,186	14,111	–	812,297	PDF p. 52 PDF p. 53
Inter-segment sales$'000	–	4,937	(4,937)	–	–	4,444	(4,444)	–	PDF p. 52 PDF p. 53
Total revenue$'000	889,805	13,568	(4,937)	898,436	798,186	18,555	(4,444)	812,297	PDF p. 52 PDF p. 53
Results
Segment results$'000	98,279	777	–	99,056	71,995	3,251	–	75,246	PDF p. 52 PDF p. 53
Interest income$'000	110	1,055	–	1,165	102	696	–	798	PDF p. 52 PDF p. 53
Depreciation of property, plant and equipment$'000	(29,961)	(275)	–	(30,236)	(21,233)	(240)	–	(21,473)	PDF p. 52 PDF p. 53
Amortisation of intangible assets$'000	(41)	(2,279)	–	(2,320)	(161)	(2,556)	–	(2,717)	PDF p. 52 PDF p. 53
Interest expense$'000	(3,279)	–	–	(3,279)	(2,979)	–	–	(2,979)	PDF p. 52 PDF p. 53
Share of results of associate$'000	–	1,184	–	1,184	–	2,456	–	2,456	PDF p. 52 PDF p. 53
Profit before tax$'000	65,108	462	–	65,570	47,724	3,607	–	51,331	PDF p. 52 PDF p. 53
Income tax expense$'000	(14,165)	(101)	–	(14,266)	(9,358)	(793)	–	(10,151)	PDF p. 52 PDF p. 53
Profit for the year$'000	50,943	361	–	51,304	38,366	2,814	–	41,180	PDF p. 52 PDF p. 53
Attributable to
Equity holders of the Company$'000	50,672	42	–	50,714	38,488	2,367	–	40,855	PDF p. 52 PDF p. 53
Non-controlling interests$'000	271	319	–	590	(122)	447	–	325	PDF p. 52 PDF p. 53
Statement of financial position
Segment assets$'000	446,780	78,363	–	525,143	379,600	103,304	–	482,904	PDF p. 52 PDF p. 53
Investment in associate$'000	–	2,797	–	2,797	–	3,952	–	3,952	PDF p. 52 PDF p. 53
Intangible assets (including other assets)$'000	10,577	5,268	–	15,845	6,081	6,812	–	12,893	PDF p. 52 PDF p. 53
Total assets$'000	457,357	86,428	–	543,785	385,681	114,068	–	499,749	PDF p. 52 PDF p. 53
Segment liabilities$'000	190,951	8,218	–	199,169	164,997	7,743	–	172,740	PDF p. 52 PDF p. 53
Lease liabilities$'000	38,327	–	–	38,327	40,690	–	–	40,690	PDF p. 52 PDF p. 53
Loans and borrowings$'000	10,465	–	–	10,465	15,401	–	–	15,401	PDF p. 52 PDF p. 53
Total liabilities$'000	239,743	8,218	–	247,961	221,088	7,743	–	228,831	PDF p. 52 PDF p. 53
Other segment information
Additions to property, plant and equipment$'000	65,734	229	–	65,963	28,921	223	–	29,144	PDF p. 52 PDF p. 53

Notes

Note 34(a) Business segments. Segments: Concrete and Cement; Trading and Others. Management streamlined segments from three to two during FY2024.

Segments results, assets and liabilities include items directly attributable to a segment. Transfer prices between operating segments are on an arm's length basis. Accounting policies of reportable segments are the same as the Group's.

Note 34(a) Business segments (continued), comparative year ended 31 December 2024.

By geography

Geographical information – revenue from external customers and non-current assets 3 lines

Geographical information – revenue from external customers and non-current assets
Item / unit	2025Revenue from external customers, $'000	2024Revenue from external customers, $'000	2025Non-current assets, $'000	2024Non-current assets, $'000	Source
Geographical information
Singapore$'000	801,278	726,321	159,577	124,944	PDF p. 53
Others$'000	97,158	85,976	54,530	54,257	PDF p. 53
Total$'000	898,436	812,297	214,107	179,201	PDF p. 53

Notes

Note 34(b): The Group's revenue from external customers and information about its segment assets (non-current assets excluding investment in associate, deferred tax assets and other financial assets) by geographical location.

Debt

Borrowings

Lease liabilities maturity analysis

Lease liabilities maturity analysis — Group
Item / unit	2025$'000	2024$'000	Source
Maturity analysis
Within one year$'000	7,948	8,504	PDF p. 46
Within two to five years$'000	15,974	15,849	PDF p. 46
More than five years$'000	25,342	28,374	PDF p. 46
Less: Finance charges allocated to future periods$'000	(10,937)	(12,037)	PDF p. 46
Represented by
Current$'000	6,689	7,262	PDF p. 46
Non-current$'000	31,638	33,428	PDF p. 46
Total$'000	38,327	40,690	PDF p. 46

Notes

Undiscounted total before finance charges: 49,264 (2025), 52,727 (2024); net lease liabilities 38,327 and 40,690.

Liquidity risk: contractual maturities of loans and borrowings and lease liabilities, 31 December 2025 (Group, undiscounted)

Liquidity risk: contractual maturities of loans and borrowings and lease liabilities, 31 December 2025 (Group, undiscounted) — Group
Item / unit	20251 year or less, $'000	2025Between 1 to 5 years, $'000	2025Over 5 years, $'000	2025Total, $'000	Source
Non-derivative financial liabilities, 31 December 2025
Lease liabilities$'000	7,948	15,974	25,342	49,264	PDF p. 51
Loans and borrowings$'000	10,606	–	–	10,606	PDF p. 51

Notes

Table drawn up on undiscounted cash flows including both interest and principal.

Liquidity risk: contractual maturities of loans and borrowings and lease liabilities, 31 December 2024 (Group, undiscounted)

Liquidity risk: contractual maturities of loans and borrowings and lease liabilities, 31 December 2024 (Group, undiscounted) — Group
Item / unit	20241 year or less, $'000	2024Between 1 to 5 years, $'000	2024Over 5 years, $'000	2024Total, $'000	Source
Non-derivative financial liabilities, 31 December 2024
Lease liabilities$'000	8,504	15,849	28,374	52,727	PDF p. 51
Loans and borrowings$'000	13,494	2,642	–	16,136	PDF p. 51

Notes

Table drawn up on undiscounted cash flows including both interest and principal.

Borrowing notes 1 tables

Loans and borrowings

Loans and borrowings — Group
Item / unit	2025$'000	2024$'000	Source
Current
Secured (Note a)$'000	8,277	10,162	PDF p. 46
Unsecured (Note b)$'000	2,188	3,192	PDF p. 46
Non-current
Secured (Note c)$'000	–	2,047	PDF p. 46
Total
Total loans and borrowings (excluding lease liabilities)$'000	10,465	15,401	PDF p. 46

Notes

The secured bank loans are backed by mortgages over certain assets of foreign subsidiaries (Note 10).

(a) The current secured bank loan of $8,277,000 (2024: $10,162,000) is denominated in Malaysia Ringgit and bears interest from 5.21% to 5.51% (2024: 4.87% to 5.52%) per annum and is guaranteed by the Company.

(b) The current unsecured bank loan of $2,188,000 (2024: $3,192,000) is denominated in Malaysia Ringgit and bears interest of 4.50% to 5.17% (2024: 4.78% to 5.20%) per annum and is guaranteed by the Company.

(c) In 2024, the non-current secured bank loan of $2,047,000 was denominated in Malaysia Ringgit and bore interest of 5.49% to 5.52% per annum and is guaranteed by the Company. The loan is repayable in 2026.

Current subtotal printed: 10,465 (2025), 13,354 (2024).

Liquidity note: 100% (2024: 87%) of the Group's loans and borrowings will mature in less than one year.

Payout

Dividends & distributions

Dividend policy

Item	Value	Period / scope	Source
Dividend policy	The Company has a dividend policy in place, which is to distribute, subject to projected funds requirements, not less than one third of its annual attributable profits to our shareholders as dividends. Any payouts are clearly communicated to shareholders via announcements on SGXNET when the Company discloses its financial results.	Company	PDF p. 22

Dividends declared and proposed

Item	Value	Period / scope	Source
Interim exempt (one-tier) dividend for year ended 2025	1.00 cents per share	FY2025 interim, exempt (one-tier), declared and paid during 2025	PDF p. 53
Interim exempt (one-tier) dividend for year ended 2025	0.70 cents per share	FY2024 interim comparative, exempt (one-tier)	PDF p. 53
Final exempt (one-tier) dividend for year ended 2025	3.50 cents per share	FY2025 final, proposed, exempt (one-tier), subject to AGM approval · As at 2025-12-31	PDF p. 53
Final exempt (one-tier) dividend for year ended 2024	2.30 cents per share	FY2024 final, exempt (one-tier), comparative	PDF p. 53
Record and payment dates for final dividend	15 May 2026	FY2025 proposed final dividend	PDF p. 56

Payout

Item	Value	Period / scope	Source
Total dividend per share for the year (in cents)	4.50 cents	Group and Company, FY2025	PDF p. 53
Total dividend per share for the year (in cents)	3.00 cents	Group and Company, FY2024 comparative	PDF p. 53

Extracted from Annual Report 2025 and checked against the cited pages; see the original report for full context.

Auditor’s report

Audit & risk signals

Audit opinion

Item	Value	Period / scope	Source
Deloitte & Touche LLP	Deloitte & Touche LLP	Group	PDF p. 29
engagement partner	Ang Poh Choo	Group	PDF p. 29
Opinion	properly drawn up in accordance with the provisions of the Companies Act 1967	Group and Company	PDF p. 28

Key audit matters

Item	Value	Period / scope	Source
Allowance for expected credit losses for trade receivables	We identified expected credit loss (“ECL”) of trade receivables as a key audit matter due to the significance of trade receivables to the Group’s consolidated financial position and the involvement of subjective judgement and management estimates in evaluating the ECL of the Group’s trade receivables at the end of the reporting period.	Group	PDF p. 28

Extracted from Annual Report 2025 and checked against the cited pages; see the original report for full context.

How to read these figures

Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.

Comparative figures follow Annual Report 2025, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.

Amounts are in Singapore dollars thousands except per-share amounts in cents, weighted-average share counts in thousands, segment chart amounts in millions, and ratios or percentages as stated.

The report presents FY2025 and FY2024 comparisons; it does not provide a five-year financial summary. Earlier original annual reports still require historical backfill.

The cash-flow statement records dividends paid during each financial year. Note 35 separately states the prior-year final dividend paid, current-year interim dividend, and proposed current-year final dividend. The FY2025 final dividend of S$0.035 per share is subject to shareholder approval, not an additional paid cash outflow in FY2025.

Segment chart amounts and contribution percentages retain their printed rounded precision. EPS weighted-average shares in Note 9 are in thousands; the summary footnote separately states precise share counts. NM means Not Meaningful as defined in the summary.

These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.