Keong Hong posts 10.1% fall in FY14 profit
Singapore
SINGAPORE'S homegrown building construction group Keong Hong Holdings on Thursday reported a 10.1 per cent drop in full-year net profit to S$19.7 million, from S$21.9 million for the same period last year.
This was despite the group announcing an 86.1 per cent increase in revenue to S$272.9 million for the financial year ended Sept 30, 2014 (FY2014). The growth was largely due to a higher percentage of revenue recognised from the group's ongoing projects as well as new projects as they reached their active stage of construction.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
China’s Sinopec in talks for gas offtake, stake in Canada’s Cedar LNG
Chinese tariffs could leave cognac makers with too much brandy
Citi promotes Damien Tan to corporate banking head for Singapore
Coffee variety is priciest since 1970s in blow to instant brews
South Korea’s probe alleges 211.2 billion won of illegal short trades
RBNZ has limited scope to cut cash rate this year: OECD