According to the Zhitong Finance App, BENG SOON MACH (01987) announced results for the year ended December 31, 2023. The group obtained revenue of S$29.3522 million, a decrease of 10.34% year on year; profit attributable to the company's equity holders was SGD 25,000, a decrease of 95.3% year on year.
According to the announcement, the decline in revenue was mainly due to a sharp drop in demand for waste in Singapore and other countries (such as mainland China) due to an unfavorable Asian market environment this year. The Group achieved a gross profit margin of 31.5% in fiscal year 2023 and 29.0% in fiscal year 2022. This slight increase highlights management's commitment to optimizing operational efficiency and financial resilience in a challenging market environment.