Advancer revenue up, driven by growth in employment services
Main article
Employment revenue services at Advancer Global (43Q:SES) rose 13.6% year over year to SGD 5.0 million (USD 3.7 million) in the first half of its fiscal year ended 30 June. The Singapore-based firm’s division that provides staffing of migrant domestic workers to households and foreign workers to corporations in Singapore led growth in the first half.
Advancer’s two other divisions, building management and security services, also saw revenue rise 4.4% and 0.2%, respectively.
Total revenue at Advancer rose 5.2% to SGD 33.0 million (USD 24.3 million).
Advancer Global - H1 2024
(SGD thousands) | H1 2024 | H1 2023 | % change | H1 2024 (USD thousands) |
Revenue | 33,018 | 31,386 | 5.20% | 24,347 |
Gross profit | 7,070 | 5,731 | 23.40% | 5,213 |
Gross margin | 21.40% | 18.30% | - | - |
Profit for the period | 284 | -1,722.00 | nm | 209 |
Segments
| (SGD thousands) | H1 2024 | H1 2023 | % change | H1 2024 (USD thousands) |
| Employment services | 5,030 | 4,427 | 13.6% | 3,709 |
| Building management | 21,155 | 20,259 | 4.4% | 15,599 |
| Security services | 8,708 | 8,687 | 0.2% | 6,421 |
Share price
Shares in Advancer closed down 1.09% to SGD 0.091 (USD 0.07) on 12 August in Singapore. They were 21.33% above their 52-week low.