Property firm KSH Holdings Limited recorded a 179 percent increase in earnings to S$8.1 million, attributed mainly to revenue that grew 71.4 percent to S$52.2 million for the third quarter ended 31 December 2012.
The company’s net profit attributable to shareholders also grew by 108.3 percent to S$22.3 million for the nine months ended 31 December.
“I am pleased to report a sterling set of results in Q3 FY2013 driven by a third consecutive quarter of strong contribution from property development, which boosted both our top and bottomline,” said Choo Chee Onn, Executive Chairman and Managing Director of KSH.
“We continued to experience stronger than expected performance from property development projects with reputable joint-venture partners, such as The Boutiq, Cityscape@Farrer Park (pictured) and Rezi 26, which contributed significantly to this quarter’s results.”
In addition, KSH’s construction business saw revenue growth due to on-going residential projects like Ardmore Three, Eight Courtyards, Seastrand and Centennia Suites, as well as additions and alteration work at Mount Alvernia Hospital.
Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
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