Company: MAGH
Filing Date: 2025-02-24
Form Type: DRS/A
Source: 0001493152-25-008050
Chunk: 67

Company: Magnitude International Ltd
Filing Date: 2025-02-24
Form: DRS/A
Chunk 67
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 Ad-hoc services*                   |     |                                      |    363,185 |     |   |   2.7 |     |      | 1,735,471 |     |   |  23.8 |
| Total                              |     |                                      | 13,589,215 |     |   | 100.0 |     |      | 7,279,839 |     |   | 100.0 |

* Non-project works and services is comprised of revenue from service fee, labor cost charged, rental of machinery and equipment, transport costs incurred, maintenance works charged, among other things.

Our total revenue decreased by S$6,309,376 or approximately 46.4% from S$13,589,215 for the six months ended October 31, 2023 to S$7,279,839 for the six months ended October 31, 2024. The decrease was mainly attributable to lesser projects being constructed and/or completed during the financial period October 31, 2024 as compared to same period of the previous year.

Our net profit after income tax was S$919,027 and S$196,748 for the six months ended October 31, 2023 and 2024, respectively. The decrease in net income for the six months ended October 31, 2024 corresponded with the decrease in revenue during the financial period.

For the six months ended October 31, 2023, we did not have any public sector projects and for the six months ended October 31, 2024, approximately 7.9% of our total revenue was generated from projects derived from public sectors. For the six months ended October 31, 2023 and 2024, our revenue generated from projects derived from private sectors accounted for approximately 97.3% and 68.3% of our total revenue and our revenue generated from non-projects works and services accounted for approximately 2.7% and 23.8% of our total revenue, respectively.

Cost of Sales exclusive of depreciation and amortization expenses

During the six months ended October 31, 2023 and 2024, our Group’s cost of sales decreased by S$5,600,338 or approximately 47.9% to S$6,083,081 for the six months ended October 31, 2024 from S$11,683,419 for the six months ended October 31, 2023. The cost of