Property firm KSH Holdings Limited has posted a 26.1 percent increase in net profit after tax to S$5.3 million in the second quarter, on the back of S$54.4 million in revenue.
“The construction and property environment remains challenging but I am pleased to report that the Group has achieved an improvement in bottom-line performance,” said Choo Chee Onn, Executive Chairman and Managing Director of KSH Holdings.
The company said its Q2 revenue dropped 24.2 percent to S$54.4 million, from S$71.7 million over the same period in the last financial year. This was mainly attributed to a decline in construction segment earnings to S$33.3 million.
In terms of its half-year results, the company said revenue declined 34 percent to S$95.1 million, attributed to a drop in revenue from the construction business, which was partly offset by the increase in revenue recognised from the sale of a development property valued at S$19.8 million.
“Going forward, we will continue to build up a balanced portfolio of public and private sector construction and property development projects. With our healthy fundamentals and strong track record, KSH is ready to take on opportunities that the sector offers,” noted Choo.
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