Property firm KSH Holdings Limited reported a significant 85 percent rise in quarterly earnings to S$9.8 million, mainly from revenue in construction projects and property development.
For the second quarter ended September 30, 2012 (2QFY2013), KSH’s revenue rose 5.4 percent to S$57.3 million against the S$54.4 million recorded during the same period last year, attributed to a 55 percent revenue increase from its construction business which stood at S$51.6 million.
Construction accounted for 90 percent of the group’s revenue while the remaining 10 percent came from property development and management.
Property development boosted the company’s performance with a substantial increase in sales and higher recognition from construction projects like Cityscape@Farrer Park. Share of results of associates grew by S$2.9 million from a loss of S$0.8 million in 2QFY2012 to a profit of S$2.1 million this quarter.
“With KSH’s strong performance and healthy balance sheet, and to reward our loyal shareholders, the Board of Directors is pleased to declare a one-tier tax-exempt interim dividend of 1.35 cents per share,” said Executive Chairman and Managing Director Choo Chee Onn.
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