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
IBM plots US$730 million expansion of Canadian semiconductor site
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Yeo Guat Kwang, John Chen retiring from corporate boards
US: Wall St opens higher
Air China orders homegrown C919s in challenge to jet duopoly
HCA beats first-quarter profit estimates on higher patient admissions