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Koh Brothers Group's Q2 net profit down 37%
CONSTRUCTION and property player Koh Brothers Group posted a net profit of S$961,000 for its second quarter, down 37 per cent from a year ago, partly due to a one-off compensation income recognised a year ago.
Revenue went up 30 per cent to S$85.7 million, mainly from improvements in the construction and building materials division.
Earnings per share was 0.24 Singapore cents, down from 0.37 cents a year ago.
No dividend was declared for the quarter.
In its outlook, the group said: “Although the construction sector remains challenging on the back of a competitive environment, being an established building and civil engineering contractor, we will continue to leverage on our strength to secure more projects in order to replenish our order book for sustainable long-term growth.”
The group also expects the private residential market to remain challenging as the various property cooling measures continue to weigh on the residential market.