KSH posts 33.4% slump in full-year net profit to S$41m

Revenue slips 18.8% to S$199.3 million, mainly due to a 19.1% decline in contribution from the construction segment

Published Fri, May 26, 2017 · 09:50 PM

Singapore

CONTRACTOR-CUM-DEVELOPER KSH Holdings reported a 33.4 per cent drop in net profit for the year ended March 31 to S$40.98 million, dragged by lower group revenue and share of results of associates.

Revenue slipped 18.8 per cent to S$199.26 million, mainly due to a 19.1 per cent decline in contribution from the construction segment. Notwithstanding the lower construction revenue, gross profit margin for the segment improved to 21.5 per cent in fiscal 2017 from 15.1 per cent in fiscal 2016.

"Although the operating environment remains challenging, we believe our requisite credentials and track record in public construction projects, and close relationships with strategic customers in the private space will allow us to remain resilient," said KSH executive chairman and managing director Choo Chee Onn.…