Koh Brothers Group Limited has announced that its net profit attributable to shareholders rose 15 percent to S$12.3 million for the full year ended 31 December 2010 from S$10.7 million in the earlier period.
The increase in net profit was attributed to the 10 percent growth in revenue to S$364.3 million, generated mainly by the group’s Construction and Building division. Profit before tax also jumped 24 percent to S$13.2 million.
For the fourth quarter ended 31 December 2010, the company saw a three percent increase in revenue to S$99.3 million.
Gross profit, however, dropped to S$8.9 million, mainly due to lower profit margins generated by certain projects.
Profit before tax stood at S$2.3 million in Q4 2010, from S$3.4 million in Q4 2009.
The group’s earning per share rose 2.57 cents in 2010 from 2.23 cents in the previous year.
Mr. Francis Koh, CEO and Managing Director of Koh Brothers, said, “This year marks our 45th anniversary as a quality home-grown infrastructure and civil engineering specialist. By staying innovative and enterprising, we are ready for the challenging future. We’re pleased to deliver an improved set of numbers for both our top and bottom lines. Going forward, we are well positioned to seize more opportunities and will exercise caution and prudence in tendering for these projects.”