Construction and property development firm Koh Brothers Group Ltd has announced that its net profit in the third quarter more than tripled to S$13.1 million, from S$4.2 million over the same period last year.
Revenue in the third quarter also climbed 35 percent to S$117.7 million, generated mainly by its real estate division, due to revision of accounting treatment to recognise revenue and profit upon completion of residential projects for property units sold under the deferred payment scheme.
“We are committed and promise to deliver quality developments on time, following our property launches in the last few years,” said Francis Koh, Managing Director and Group CEO of Koh Brothers.
For the nine months ended September 30, 2011, its revenue increased four percent to S$274.3 million, while gross profit surged 48 percent to S$39.6 million, attributed to contributions from the construction and building materials and real estate divisions.
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