Mainboard-listed Koh Brothers Group Limited has posted a 22-percent increase in net profit in the first half of 2010, to S$5.4 million from S$4.4 million over the same period last year.
The strong H1 result was attributed to the 27-percent growth in sales to S$176.7 million, which was derived from the group’s Construction and Building Materials division.
The company also saw a 57-percent increase in its profit before tax (PBT) to S$6.4 million in H1 from S$4.1 million over the same period last year.
For Q2 2010, sales also increased 18 percent to S$91.8 million from S$77.7 million a year ago.
However, the group’s PBT fell 12 percent to S$2.7 million in Q2 this year compared with S$3.1 million in Q2 last year. The decline was attributed to the 16-percent drop in gross profit due to reduced profit margins from its Building Materials subsidiaries.
“We have remained resilient and are glad to have achieved an increase in net profit for our shareholders for 1HFY2010, on the back of improved revenue. Going forward, in line with the upbeat economy and positive sentiments for both the construction and property segments, our core business divisions, we are optimistic of good growth opportunities,” said Mr. Francis Koh, CEO and managing director of Koh Brothers.