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Koh Bros Q4 net profit up 29% to S$2.4m

MAINBOARD-LISTED construction player Koh Brothers Group posted a 29 per cent rise in net profit to S$2.4 million for its fourth quarter ended Dec 31, 2019, from S$1.9 million a year ago.

This came on the back of higher share of profit from associated companies and joint ventures and other gains, as well as lower finance costs, said Koh Brothers on Thursday night.

Earnings per share stood at 0.59 Singapore cent for the quarter, up 31.1 per cent from 0.45 cent a year ago.

Revenue fell 25 per cent to S$98 million from S$131.5 million a year ago due to lower revenue recognition from the construction and building materials division.

The group recommended a final cash dividend of 0.4 Singapore cent per share, the same as the year before. The date payable and books closure date is subject to approval by shareholders at the next annual general meeting.

For the full year ended Dec 31, net profit was up 1 per cent to S$5.8 million from S$5.7 million a year ago, while revenue was down 12 per cent to S$353.7 million from S$403.6 million.

Francis Koh, managing director and group chief executive officer of Koh Brothers said: "For our core construction business, we will stay steadfast to tap the positive outlook in the public sector, backed by our strong track record in handling mega and varied infrastructure projects.

"Top on our priority is to keep abreast of advanced technologies and a focus on raised productivity to stay ahead of competition."

Shares of Koh Brothers closed up S$0.005 or 2.2 per cent to S$0.23 on Thursday, before the results were released.