Property firm KSH Holdings Limited has posted a full-year net profit of S$20.4 million on the back of S$170.6 million in revenue due to a strong order book of approximately S$467.0 million.
“The group remained profitable in FY2012 notwithstanding a challenging period. We continued to rebalance our portfolio, with good results seen in our Property Development and Management segment,” said Choo Chee Onn, Executive Chairman and Managing Director of KSH Holdings.
“To reward our loyal shareholders, apart from the interim dividend, the Board of Directors is declaring a one-tier tax exempt final dividend of 0.5 cent per share, bringing total dividends declared to 1.5 cents per share.”
Meanwhile, revenue declined 35.1 percent to S$170.6 million due to a 43.5 percent drop in revenue from its construction segment, which accounted for 85.2 percent of the group’s revenue for the year.
At the same time, revenue from property development and management hit S$25.3 million, contributing 14.8 percent to the group’s revenue. However, net profit fell 11.2 percent to S$20.4 million from S$23 million in the previous year. This was mitigated by a 65.8 percent increase in other income to S$9.9 million in FY2012, underpinned by an increase in gain of fair value adjustments for investment properties and interest income.
Looking ahead, KSH said it will continue with public and private sector projects and improve productivity with cost-effective measures.
“Through strategic consortiums and joint ventures, the group is redeveloping properties such as Hong Leong Garden Shopping Centre, Seletar Garden and 11 King Albert Park,” said Choo.
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