Koh Brothers' earnings up 22% in Q4

Singapore

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. Share of results of joint venture companies recorded a profit of S$10.07 million in Q4 FY2015; this was mainly due to fair value gain on an investment property after the completion of its asset enhancement. In Q4 FY2014, the group booked a share of loss from joint venture companies of S$2.47 million.