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Thread: Koh Brothers' Q4 profit up five-fold

  1. #1
    Join Date
    Oct 2011
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    Default Koh Brothers' Q4 profit up five-fold

    http://www.businesstimes.com.sg/prem...-fold-20130220

    Published February 20, 2013

    Koh Brothers' Q4 profit up five-fold

    By Mindy Tan


    KOH Brothers Group Limited's net profit for the fourth quarter ended Dec 31, 2012, jumped five-fold to $6.5 million from $1.3 million a year ago.

    This was on a 74 per cent increase in revenue to $116.1 million, due mainly to progressive revenue recognition from its 99-year residential project, Parc Olympia at Upper Changi, which was launched in July last year.

    Said Francis Koh, managing director and group chief executive officer of Koh Brothers: "While knee- jerk reactions to the latest round of cooling measures are inevitable, we remain positive on a stable outlook for Singapore's property sector."

    "Demand from first-time homebuyers looking for a quality property is expected to remain strong and we are of the view that property prices will remain stable," he added.

    The construction, property development, and specialist engineering solutions provider said that it has a five-year productivity improvement scheme, which is focused on encouraging employees to achieve greater productivity.

    For the full year, the group made a net profit of $19.7 million, little changed from $19.9 million the previous year. Revenue slipped 12 per cent year-on-year to $299.5 million from $341.1 million.

    This was mainly due to lower revenue generated from the construction and building materials division.

    Earnings per share rose to 4.23 cents for FY2012, from 4.19 cents previously. The board has proposed a first and final dividend of 0.35 cent per ordinary share.

    In November last year, Koh Brothers secured a $30.9 million contract from Changi Airport Group for a proposed retention pond at Changi Airport.

    In April, the group was awarded a $54.6 million contract by PUB for the construction of a used water lift station at PUB's Jurong Water Reclamation Plant, through a joint venture.

    Separately, Parc Olympia, a sports-themed condominium, was launched in Flora Drive in July 2012. The 99-year, 486-unit development offers sporting facilities which include a synthetic jogging track, a rock-climbing wall, an air- conditioned badminton court, a skate park, and a putting green.

    The counter closed unchanged at 34.5 cents yesterday.

  2. #2
    Join Date
    May 2009
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    1,449

    Default

    That translate into 5% profit of a 116 m revenue.. I believe is The constrcution arm that is bleeding... And Singapore construction firms are very difficult to sustain ...

    Big players such as former semb construction sold ,Econ scaled and many more .. Construction industry is sundowner ...

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