Sevens Atelier Limited, a prominent player in Singapore’s Design and Build industry for landed properties, has announced a net profit of $22.6m (S$31m) for the financial year 2024, marking a significant turnaround from a $295.3m (S$405m) loss in FY 2023. This achievement is attributed to streamlined operations and cost structures that have enhanced efficiency and profitability.
The company’s revenue for FY 2024 decreased to $663.1m (S$910m) from $1,044.8m (S$1,433m) in the previous year. However, gross profit margins improved from 15.4% to 19.6%, reflecting successful restructuring and cost management efforts. Administrative expenses were also reduced by nearly 50%, setting the stage for sustainable long-term growth.
Sevens Atelier’s order book, valued at $900.1m (S$1,236m) as of 31 December 2024, surpasses its FY 2024 revenue, positioning the company for stronger revenue streams in the coming year. The company aims to enhance project profitability, with contracts expected to generate higher profit margins despite challenges such as cost inflation and rising competition.
The Group’s focus on high-quality Design and Build solutions for landed homes in Singapore continues to distinguish it from competitors. Its flagship experience centre enhances customer engagement, contributing to increasing demand and a growing pipeline of projects.
Looking ahead, Sevens Atelier is exploring strategic growth opportunities through mergers and acquisitions, and expansion into new business segments and geographic markets. With a favourable macroeconomic outlook, including stabilising market demand and positive expectations on global interest rate adjustments, the company is well-positioned to capitalise on emerging opportunities. Tang Yao Zhi, the Group’s Operation Director, stated, “Achieving our first full-year profit since changing to a Design and Build player is a testament to our unwavering commitment to financial prudence and operational efficiency.”
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