SOCAM DEV (00983) announced its annual performance with a net loss attributable to shareholders of HKD 92 million, narrowing by 74.73% year-on-year.

SOCAM DEV (00983) announced its annual results for the year ending December 31, 2025. The group achieved a turnover of HK$7.01 billion, a decrease of 22.52% compared to the previous year. The company's attributable loss for the year was HK$92 million, a decrease of 74.73% compared to the previous year, with a loss per share of HK$0.24. The announcement stated that the turnover of the construction division for the year decreased by 23% to HK$6.882 billion compared to the previous year. The decrease in turnover was mainly due to the completion of several building contracts during the year, such as four public housing development projects, the design and construction of the Drainage Services Department's office building, and the large-scale contract for the second phase of the Kwai Chung Hospital redevelopment project. However, the group still has a substantial backlog of contracts in the construction division, with an unfinished contract value of HK$19.5 billion, some of which are expected to accelerate progress and drive growth in turnover and profit contributions from 2026 onwards. In 2025, the construction division secured new contracts worth HK$6.7 billion, with an additional HK$3.2 billion in new contracts after the year-end, totaling HK$9.9 billion.