KSH posts 33.9% fall in Q3 net profit

CONSTRUCTION and property firm KSH Holdings said on Thursday evening that net profit fell 33.9 per cent to S$9.1 million for its third quarter ended Dec 31, 2016, down from S$13.8 million a year ago.

The group's revenue dropped 33.6 per cent to S$35.9 million, due mainly to a decrease in revenue from the construction segment.

Meanwhile, share of results of associates slipped 86.8 per cent due to lower sales and percentage-of-completion revenue recognised on property development projects in Singapore. But share of results of joint ventures achieved a turnaround from a loss of S$0.1 million in Q3 last year to a gain of S$4.0 million, attributable to profit recognised from its High Park Residences project.

KSH's counter ended trading unchanged at 54.0 S cents on Thursday evening before results were out.