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Koh Brothers Q1 profit dips marginally to S$4.71m

Real estate group Koh Brothers' first-quarter net profit dipped marginally year-on-year to S$4.71 million from S$4.73 million.

This was despite revenue climbing 16 per cent to S$117.4 million, largely due to higher revenue from the group's real estate division. It derives its revenue from two other core areas: construction and building materials, as well as leisure and hospitality.

The group also recorded a rise in other income by 72 per cent to S$0.6 million, mainly due to gain on disposal of financial assets through profit or loss.

It recorded a share of loss from joint ventures amounting to S$2.27 million, mainly due to lower contribution from a property that is currently undertaking an asset enhancement exercise.

The group's earnings per share stood at 1.12 cents, while its net asset value was 57.22 cents per ordinary share. No dividend has been proposed.

The counter closed at 34 cents on Tuesday, unchanged.

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