Singapore – BRC Asia Limited lifted net profit 24% year-on-year to S$52.0 million for the six months ended 31 March 2026, buoyed by accelerated project deliveries that pushed revenue to a record S$931.0 million, up 30% from a year earlier.
Earnings per share rose to 18.95 Singapore cents from 15.33 cents. The board proposed an interim tax-exempt dividend of 8 Singapore cents a share, equivalent to a 42% payout ratio and a 4% dividend yield.
The core Fabrication and Manufacturing division generated S$772.0 million in revenue, a 33% YoY increase helped by higher domestic tonnage and the first-time consolidation of Malaysian subsidiary Southern Steel Mesh. The Trading arm contributed S$159.0 million, up 20% YoY on stronger international sales. Overall gross profit climbed 38% to S$93.3 million as the mix shifted toward value-added prefabricated products and onerous-contract provisions fell to S$4.5 million from S$7.7 million.
Cost pressures persisted. Distribution expenses surged 66% to S$7.0 million and administrative expenses rose 32% to S$17.5 million amid stronger activity levels and overseas expansion. Allowance for expected credit losses increased to S$2.6 million following higher receivables, while lower borrowings and moderating interest rates cut finance costs by 52% to S$1.8 million.
BRC Asia ended the period with an order book of S$1.76 billion—providing up to five years of revenue visibility—cash of S$197.8 million and net assets of S$530.2 million.
Looking ahead, the company sees construction demand in Singapore holding steady at S$47 billion–S$53 billion in 2026, underpinned by public infrastructure and housing projects. Management intends to leverage its market leadership, prefabrication capacity and overseas operations in Malaysia and Thailand to secure new work and mitigate tighter tender pricing and rising input costs.
Chief executive Seah Kiin Peng noted that faster conversion of the order book into revenue underpinned first-half performance and said the group expects the momentum to continue through the year. He added that domestic leadership, complemented by overseas growth, should support longer-term value creation for shareholders despite increasing competition and cost volatility in the reinforcing-steel market.