Wei Yuan Holdings Limited reported FY2025 net profit of S$4.84 million, up 154.9% from S$1.90 million a year earlier, driven by improved project margins and a turnaround in joint-venture results. Basic earnings per share rose to 0.45 Singapore cents versus 0.16 cents in FY2024.
Revenue edged up 1.44% year on year to S$98.44 million. Contract works remained the core contributor at S$79.84 million, essentially flat, while ancillary support and other services increased 29.4% to S$6.70 million. Road-milling services declined 8.3% to S$8.34 million.
Cost of sales fell 0.63% to S$83.61 million, lifting gross profit to S$14.84 million and expanding the gross margin to 15.1% from 13.3%. Administrative expenses dipped 2.8% to S$9.08 million, and net impairment allowances eased to S$0.38 million. Joint-venture operations contributed a profit of S$0.69 million, reversing a S$0.13 million loss in the prior year.
Finance income decreased to S$0.13 million, while finance costs rose slightly to S$1.47 million, reflecting higher bank borrowings. Property, plant and equipment more than doubled to S$43.27 million following the S$19.51 million, 20-year lease acquisition of premises at 18 Chin Bee Drive.
Total assets grew to S$129.96 million, but cash and pledged deposits fell to S$9.24 million from S$20.14 million. Bank borrowings climbed to S$44.23 million, pushing the gearing ratio to 74.7% (FY2024: 44.2%) and the net-debt-to-equity ratio to 59.9% (FY2024: 9.5%). Weighted-average borrowing cost eased to 3.08% from 4.83%.
Contract assets increased 29.9% to S$56.96 million, reflecting early-stage progress on new projects. The Group’s order book stood at approximately S$594.50 million with scheduled completions through 2029.
No final dividend was proposed. The auditor issued a qualified opinion related solely to comparative figures arising from a June 2024 disposal; there was no scope limitation on FY2025 data.
Management will focus on cost control, cash conservation and selective tendering amid persistent labour-cost pressures, supply-chain volatility and higher interest rates.