reporter2
14-02-12, 17:50
http://www.businesstimes.com.sg/sub/companies/story/0,4574,477613,00.html?
Published February 14, 2012
KSH Holdings' Q3 earnings down by 64%
By LESLEY TEOH
KSH Holdings Ltd suffered a 64 per cent slide in net profit for its third quarter ended Dec 31 to $2.91 million.
The drop in earnings attributable to shareholders came as group revenue slumped 51.4 per cent from $62.7 million to $30.5 million, due mostly to a decline in revenue from the construction business to $29.1 million from $61.3 million previously. Profit before tax dropped 52 per cent to $4.3 million.
Q3 earnings per share were 0.84 cents, down from 2.42 cents a year earlier.
Net profit attributable to shareholders for the first nine months of the fiscal year decreased 35.2 per cent to $10.7 million.
KSH Holdings is a construction, property development and property management group that handles both public and private sector projects.
KSH Holdings yesterday separately announced a $53.3 million letter of intent from Unique Development Pte Ltd for the construction of The Boutiq - a freehold development in Killiney Road. The project, for a contract period of 21 months, will bring the group's order book on construction projects to some $506 million.
The Boutiq is a freehold development. Under the terms of the contract, KSH will be building two 10-storey apartment blocks with a total of 130 units, as well as a basement carpark and swimming pool.
The project comes amidst rising construction costs, competitive tender prices and an anticipated softening in private sector construction demand.
KSH remains cautiously optimistic on the outlook of its construction business in Singapore.
'The BCA (Building Construction Authority) projected the total Singapore construction demand in year 2012 to be between $21 billion and $27 billion, of which, about 60 per cent is expected to come from the public sector,' said KSH.
KSH closed trading yesterday at 24.5 cents.
Published February 14, 2012
KSH Holdings' Q3 earnings down by 64%
By LESLEY TEOH
KSH Holdings Ltd suffered a 64 per cent slide in net profit for its third quarter ended Dec 31 to $2.91 million.
The drop in earnings attributable to shareholders came as group revenue slumped 51.4 per cent from $62.7 million to $30.5 million, due mostly to a decline in revenue from the construction business to $29.1 million from $61.3 million previously. Profit before tax dropped 52 per cent to $4.3 million.
Q3 earnings per share were 0.84 cents, down from 2.42 cents a year earlier.
Net profit attributable to shareholders for the first nine months of the fiscal year decreased 35.2 per cent to $10.7 million.
KSH Holdings is a construction, property development and property management group that handles both public and private sector projects.
KSH Holdings yesterday separately announced a $53.3 million letter of intent from Unique Development Pte Ltd for the construction of The Boutiq - a freehold development in Killiney Road. The project, for a contract period of 21 months, will bring the group's order book on construction projects to some $506 million.
The Boutiq is a freehold development. Under the terms of the contract, KSH will be building two 10-storey apartment blocks with a total of 130 units, as well as a basement carpark and swimming pool.
The project comes amidst rising construction costs, competitive tender prices and an anticipated softening in private sector construction demand.
KSH remains cautiously optimistic on the outlook of its construction business in Singapore.
'The BCA (Building Construction Authority) projected the total Singapore construction demand in year 2012 to be between $21 billion and $27 billion, of which, about 60 per cent is expected to come from the public sector,' said KSH.
KSH closed trading yesterday at 24.5 cents.