By Shabnam Muzammil:
Property and construction firm KSH Holdings has reported its net profit surged 84.6 percent to S$37.6 million while net profit attributable to shareholders almost doubled to S$36.3 million for the year ended 31 March 2013 (FY2013).
This was attributed to a 41.8 percent rise in project revenue to S$206.1 million and an increase in share of results of associates of S$16.7 million.
“In FY2013, the Group’s bottomline was driven by higher profit recognition from several of our joint-venture property development projects, as well as an increase in revenue from our construction business,” said Choo Chee Onn, Executive Chairman and Managing Director of KSH.
Moving forward, the company has plans to expand overseas, particularly in Southeast Asia and China.
KSH recently won a contract for its first construction project in Beijing for a mixed development comprising condominiums, office and commercial units.
Shabnam Muzammil, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email shabnam@propertyguru.com.sg
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