KSH Q3 profit up 21.3% despite lower revenue

EARNINGS for construction firm and property developer KSH Holdings rose 21.3 per cent in the third quarter in spite of lower revenue, aided by lower costs of construction and its share of results of associates.

The group recorded a net profit of S$13.8 million for the three months ended Dec 31, up from S$11.4 million a year ago. Its earnings per share correspondingly grew from 2.75 cents a year ago to 3.07 cents.

Revenue fell 9.5 per cent to S$54.1 million, as its construction business and rental income from investment properties both dipped.

KSH said it will continue to raise productivity through technology adoption and innovative measures, as well as tap government grants to train workers and increase its use of equipment and tools. It has an order book of more than S$270 million on construction projects as at Dec 31, it said.

The counter closed unchanged at 50 Singapore cents on Thursday, before the announcement of the results.