KSH Holdings has announced that its net profit for the third quarter ended 31 December 2010 rose 57 percent to S$8.2 million, from S$5.2 million over the same period in 2009.
“I am pleased to report an increase in net profit for this financial period. This serves as a testament to the confidence our business associates have in our quality of work and well-rounded portfolio of projects. Coupled with Singapore’s strong economic fundamentals and positive outlook for the construction sector, we will continue to ride on the opportunities that will help our group to further grow and expand,” said Mr. Choo Chee Onn, Executive Chairman and Managing Director of KSH Holdings.
However, the group’s revenue slipped 24 percent to S$62.7 million from S$82.5 million, due to the decrease in revenue from its construction business. Cost of construction also fell 33 percent (S$24 million) to S$48.5 million, from S$72.5 million.
For the property development and management segment, the group posted a revenue of S$1.4 million, while rental income from investment properties jumped by S$0.2 million.
For the nine months ended 31 December 2010, KSH Holdings saw a total revenue of S$206.8 million, while profit before tax climbed slightly to S$19.2 million, from S$19.1 million. This resulted in a nine percent increase in net profit after tax to S$16.7 million from S$15.3 million.