News Snapshot:
BRC ASIA LIMITED ( SGX:BEC ) BRC Asia - Construction Sector Recovery Surpasses Our Estimates BRC Asia (SGX:BEC) 's 1HFY22 revenue and net profit was ahead of our expectations at 81%/83% of FY22e. The beat came from a faster-than-expected recovery of the construction sector. We estimate that volume moved increased ~30% y-o-y in 1HFY22. $1.8mil in net reversal for onerous contracts made in 1HFY22 as contracts were fulfilled, though this was offset by additional provisions for deliveries beyond the period. Continue Reading »
