Fair-value boost for Koh Brothers' Q2

CONSTRUCTION group Koh Brothers reported a 138 per cent year-on-year surge in net profit to S$11.53 million for the second quarter ended June 30, 2014.

Sales rose 7 per cent to S$109.49 million on the back of higher sales from its real estate division. Earnings per share more than doubled to 2.61 Singapore cents during the quarter, from 1.05 Singapore cents.

Cost of sales was 4 per cent higher at S$92.12 million. Gross profit improved 25 per cent to S$17.37 million thanks to higher margins from the real estate business division. The bottom line was also boosted by a S$6.1 million fair value gain on its investment properties.