KSH Holdings Limited (KSH), one of Singapore’s leading property developers, has posted a net profit of S$2.7 million on the back of a total revenue of S$40.8 million in the first quarter ended 30 June 2011.
“I am pleased to report that the group has achieved bottom-line performance of S$2.7 million notwithstanding a challenging property and construction environment. This demonstrates the resilience of our business and the confidence that our business partners have in us,” said Choo Chee Onn, Executive Chairman and Managing Director of KSH Holdings.
“We will continue to build up a balanced portfolio of public and private sector construction and property development projects, which are in line with our business strategy.”
KSH’s construction segment contributed 97 percent (S$39.4 million) to the group’s total revenue, while its property development and management segment comprised the remaining three percent (S$1.4 million).
As of 30 June 2011, KSH registered a strong balance sheet and working capital position, with cash and cash equivalents and fixed deposits of S$79.6 million. Its net asset value per ordinary share and earnings per share stood at 36.9 cents and 0.76 cents respectively.
“Going forward, backed by construction order books of approximately S$350 million as at June 30, 2011, we are cautiously optimistic on the outlook of our core construction business,” Choo added.
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