KUALA LUMPUR: Southern Score Builders Bhd (SSB) posted revenue of RM39.5 million for the first quarter (Q1) ended September 30, 2024 (FY25), an increase of 38.0% year-on-year (YoY) from RM28.6 million posted in Q1 FY24.
The growth is primarily attributed to the commencement of the Platinum Melati Residences project in July 2024.
The group’s profit before tax (PBT) surged by 66.6% YoY to RM10.1 million, while net profit climbed 61.4% to RM7.7 million.
This, in turn, translated into a solid PBT margin of 25.5% and a net profit margin of 19.4%.
SSB executive director and CEO Gan Yee Hin said the value of construction work in Malaysia surged by 19.1% YoY to RM116.8 billion in the first three quarters of 2024, as reported by the Department of Statistics Malaysia.
He said this positive trend creates a favourable environment for companies like ours, contributing to Malaysia’s infrastructure development.
“Our robust order book of RM1.3 billion provides strong earnings visibility over the next three to four years.
“This solid foundation allows us to target new strategic opportunities in high-rise building and infrastructure projects, ensuring continued growth while upholding our commitment to efficient project execution and timely delivery of existing projects,“ he said.
Gan said looking ahead, SSB is well-positioned for continued growth, underpinned by two key drivers: the ongoing expansion of its core construction management services and imminent entry into the mechanical and electrical (M&E) segment through the proposed acquisition of SJEE Engineering Sdn Bhd (SJEE).
“With the completion of the SJEE acquisition anticipated in December 2024, we are focused on capitalising on the significant growth potential in Malaysia’s data centre market,“ Gan said.
As of September 30, 2024, SSB maintains a healthy net cash position with cash and cash equivalents totalling RM53.6 million, exceeding borrowings of RM15.9 million.
