Financial Performance9MFY24 financial performance fell short of expectations, with revenue at S$1,140m (-3.1% yoy) and core net profit at S$56.1m.
Operational Challenges3QFY24 saw a fall in core net profit of S$17.6m (-22% yoy) due to a shortage of engineering resources and inspection delays.
Revenue ImpactBRC Asia's revenue is closely correlated to steel rebar prices, which have declined by an estimated 10% YoY, impacting revenue negatively.