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Koh Brothers Group net profit up 22% in Q4

KOH Brothers Group has posted a 22 per cent increase in net profit for the fourth quarter ended Dec 31, 2015 to S$7.57 million. Sales rose 10 per cent to S$112.28 million. The sales improvement was mainly contributed by the construction and building materials divisions.

However, the group's gross profit fell 20 per cent to S$11.74 million in Q4 FY2015 from S$14.70 million a year ago primarily due to lower gross profit margins.

Earnings per share rose to 1.82 cents for Q4 FY2015 from 1.42 cents for Q4 FY2014.

Net asset value backing per share stood at 61.98 Singapore cents as at Dec 31, 2015, up from 55.73 cents as at Dec 31, 2014.

The counter closed unchanged at 26.5 cents on Wednesday.

For the year ended Dec 31, 2015, net profit eased 6 per cent to S$27.88 million.

The group has recommended a special dividend of 0.3 cent per share and a final dividend of 0.5 cent per share for FY2015. Both payouts are unchanged from the previous financial year. The proposed dividend, if approved by shareholders, will be paid out on June 16.