HPC Holdings Faces Revenue Decline Amidst Market Challenges

HPC Holdings Ltd. (HK:1742) has released an update.

HPC Holdings Limited reported a significant revenue drop of 48.21% in the first half of 2024, with gross profit also falling by 17.44% due to early stages of major ongoing projects and a stabilized post-COVID market. Despite these challenges, the company secured a new S$39.393 million project and maintained a healthy order book valued at S$312 million. Net profit after tax plummeted by 66.74% compared to the same period last year, as the company navigates a competitive construction market with rising material costs and geopolitical tensions.

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