BBR Holdings' earnings double for 1Q11

The jump in the company's revenue was attributable to higher construction revenue and its maiden contribution from property development project, Lush on Holland Hill.

BBR’s order book remains healthy at S$640m, comprising mainly of civil engineering and building contracts that will be fulfilled by 2015.

In a statement, DMG Research said, “recent significant project wins in terms of size and technical complexity would strengthen [BBR's] track record, boosting its chances of winning fairly sizable public sector projects ahead."

The company's current YTD contract wins include a RM52.7m contract from Trans Resources Corporation Sdn Bhd to construct and complete the facilities works for the Kelana Jaya LRT Line Extension Project in Kuala Lumpur, Malaysia and a S$79.8m LTA project to widen the Keppel Viaduct.

DMG Research addded it expects BBR to continue to recognise the sales of Lush on Holland Hill in FY11, estimated at S$74.9m.

"The property sector would continue to sweeten the bottom line for BBR in the next few years... With the strong pipeline of committed public sector projects such as the MRT Downtown Line and Sports Hub, the level of activity for the construction industry is expected to be sustained going forward,” the analyst said.

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