Published:
BBR's net profit crashed by a staggering 99.2% to $900,000 in Q2
On back of bleak construction outlook.
BBR Holdings reported that its net profit plunged by a whopping 99.2% year-on-year to $900,000 in the second quarter.
The steep decline was due to lower revenue from its construction and property development segments.
The group’s gross margins also fell from 6.6% in the first half of 2014 to 5.8% in the first half of 2015.
“The lower gross margin achieved was generally a reflection of the current competitive and challenging environment in the construction industry, such as, labour shortages which have led to higher construction costs,” said BBR Holdings.
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