Written by The Edge
KSH Holdings, the construction, property development and property management group, today announced a 56% rise in net profit to $4.3 million for the three months period ended June 30, 2010 (1QFY2011). Revenue rose by 21% to $72.4 million from S$60.0 million in the three months period ended June 30, 2009 (1QFY2010).
KSH’s core Construction segment remains as the group’s strongest revenue contributor in 1QFY2011, contributing 98% of total group revenue at $71.0 million. Revenue from the construction business increased by $12.3 million or 21% to $71.0 million in 1QFY2011, as compared to $58.7 million in 1QFY2010. The increase was mainly due to revenue contributed from new projects and other ongoing projects that have progressed into advanced stages of construction.
Revenue from the group’s Property Development and Management segment made up the remaining 2% of total revenue in 1QFY2011 at $1.4 million. Rental income from the group’s investment properties and development property increased by $0.1 million in 1QFY2011 as compared to the previous corresponding period.
In line with the increase in revenue, the group’s profit before tax increased by 44% or $1.5 million from $3.6 million in 1QFY2010 to $5.1 million in 1QFY2011. As a result, the group’s net profit attributable to shareholders rose by a marked 54% from $2.7 million in 1QFY2010 to $4.2 million in 1QFY2011.
Dividend : None
