Keong Hong narrows H1 net loss to S$3.7 million on pickup in construction activity

CONSTRUCTION player Keong Hong Holdings’ net loss narrowed to S$3.7 million for its half-year ended Mar 31, 2023, from S$10.8 million in the year-ago period.

This is even as revenue more than doubled to S$118.1 million, from S$54.7 million a year earlier, the mainboard-listed company said in a bourse filing on Wednesday (May 10).

Keong Hong attributed the revenue gains to progress made in its various ongoing construction projects, as well as an increase in productivity of construction activities year on year.

Loss per share for the half-year stood at 1.58 Singapore cents, from 4.59 cents the previous year.

No dividend was declared for the half-year, unchanged from the year before.

Shares of Keong Hong closed flat at S$0.35 on Wednesday, before the results were announced.