Keong Hong posts 24.4% fall in Q4 profit to S$17m

Singapore

KEONG Hong Holdings Limited reported a 24.4 per cent decline in net profit to S$17 million for the fourth quarter ended Sept 30.

Revenue clocked in by the construction, hotel and property development and investment group slipped 24.8 per cent to S$57.15 million during the quarter.

For the full year, the group's net profit dipped 9 per cent to S$34.67 million on the back of lower revenue and gain from associates.

The 12 per cent decrease in full-year revenue to S$248 million was a result of lower recognition of construction revenue in the current reporting period as projects such as Alexandra Cen…