Construction and property development group Koh Brothers has announced that its net profit for the nine-month period ended 30 September 2010 jumped 38 percent to S$10.1 million, compared to S$7.3 million over the same period last year.
The growth was achieved on the back of a 14 percent jump in sales to S$265.0 million, mainly from the construction and building materials division.
Aside from higher revenue, profit was boosted by a reduction in total expenses due to lower finance and distribution expenses.
The group’s earnings per share improved to 2.10 cents for the first nine months of the year, compared to 1.52 cents over the same period last year.
Mr. Francis Koh, Managing Director and Group CEO of Koh Brothers, said: “Our resilience continues and we are glad to have achieved an increase in net profit for our shareholders for 9MFY2010, on the back of an improved revenue. Moving forward, in line with the upbeat economy and positive sentiments for the construction, property and hospitality segments, we are optimistic of good growth opportunities and will be selective in tendering for new projects. We will continue to monitor the market closely and continue with our efforts to control costs and improve productivity.”
Looking ahead, the group believes that the general market sentiment is still positive, and will launch more residential units for sale at the appropriate time.
For the construction and building materials division, Koh Brothers is encouraged by future government projects like Downtown Line 3.
The group is also optimistic that the outlook of the hospitality division, which has an improved occupancy rate, will continue to do well.
800×600
Normal
0
false
false
false
EN-SG
X-NONE
X-NONE
MicrosoftInternetExplorer4
/* Style Definitions */
table.MsoNormalTable
{mso-style-name:”Table Normal”;
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-priority:99;
mso-style-parent:””;
mso-padding-alt:0cm 5.4pt 0cm 5.4pt;
mso-para-margin:0cm;
mso-para-margin-bottom:.0001pt;
mso-pagination:widow-orphan;
font-size:10.0pt;
font-family:”Times New Roman”,”serif”;}