On May 30, GLONGHUI | CTR HOLDINGS (01416.HK) announced that the Group's revenue increased sharply by about S$60.4 million, or 67.4%, from approximately S$89.8 million in the previous year to approximately S$150.2 million for the year ended February 29, 2024. The increase is due to more construction activities and undertaking more large-scale projects during the year.
The Group's profit for the year decreased from approximately S$6.9 million in the 2022/2023 fiscal year to approximately S$4.2 million, or 61.1%, to approximately S$2.7 million in the fiscal year. The decrease was mainly due to lower gross margins and higher administrative expenses.