Group Note 2024 2023 $’000 $’000 Revenue B2 11,275,659 10,101,021 Cost of sales (9,101,384) (8,128,269) Gross profit 2,174,275 1,972,752 Distribution and selling expenses (206,606) (179,414) Administrative expenses (797,380) (752,581) Other operating expenses (192,783) (215,294) Other income, net 28,034 14,647 Profit from operations B3 1,005,540 840,110 Non-operating (expense)/income, net B4 (59) 16,454 Share of results of associates and joint ventures, net of tax 70,986 58,093 Earnings before interest and tax 1,076,467 914,657 Finance income 37,862 41,286 Finance costs (251,644) (251,732) Finance costs, net E2 (213,782) (210,446) Profit before taxation 862,685 704,211 Taxation B6 (133,480) (99,785) Profit after taxation 729,205 604,426 Attributable to: Shareholders of the Company 702,256 586,467 Non-controlling interests F3 26,949 17,959 729,205 604,426 Earnings per share (cents) B5 Basic 22.53 18.82 Diluted 22.35 18.69 CONSOLIDATED INCOME STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 (CURRENCY – SINGAPORE DOLLARS UNLESS OTHERWISE STATED) The accompanying notes are an integral part of the financial statements. 128 ST ENGINEERING | ANNUAL REPORT 2024
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