Page 90 - flipbook-ubp-IR

INTRODUCTION ABOUT US MANAGEMENT APPROACH
FINANCIAL CAPITAL
Financial Performance Review
The local construction industry’s growth rate for calendar year 2021 was 22.7%, compared to a degrowth of 28.0% in 2020 due to the Covid-19 outbreak, while the forecasted growth rate for 2022 is estimated at 1.1%. This marginal growth forecast is in line with global trends due to the impact of the Ukraine war on commodity and energy prices and an aggravation of supply chain issues causing higher inflationary pressure. With high inflation and slow growth, a stagflation situation is likely to occur for several years ahead. These negative economic indicators are somehow outweighed by the Public Sector Investment Programme (PSIP) announced in the last national budget, which comprises major infrastructure and social housing projects spanning over the next three financial years, assuming the timely realisation of such projects.
Our Group revenue for FY2022 increased by 22.4% (+Rs 731.4 million) to nearly Rs 4.0 billion (FY2021 - Rs 3.3 billion). Pre-Mixed Concrete Limited, which was consolidated as a subsidiary as from November 2021, contributed Rs 416.0 million to the revenue increase for the year under review while our retail activities segment contributed Rs 205.6 million to that increase.
REVENUE
Rs’000 4,000,000
3,500,000 3,000,000 2,500,000 2,000,000 1,500,000 1,000,000
500,000 0
88
UBP INTEGRATED REPORT 2022
FY2018 FY2019 FY2020 FY2021
FY2022
2,927,055
3,236,426
2,844,797
3,262,108
3,993,473