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SG Koh Brothers enjoys profit, revenue surge

Property Here - Thursday, May 16, 2013

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By Shabnam Muzammil:

Koh Brothers Group has reported an increase in Q1 net profit attributable to equity holders of S$3.3 million due to higher contributions from its property business.

Revenue also rose to S$80.8 million in the first three months of 2013 from S$58.78 million in the same period last year, while gross profit climbed nine percent to S$11.0 million.

Earnings per share inched up from 0.68 cents to 0.71 cents per ordinary share in Q1, while net asset value per share rose from 44.35 cents to 44.47 cents.

The company stated that it remains “in a healthy financial position, with cash and bank balances of S$34 million as at March 31, 2013”.

Francis Koh, Managing Director and Group CEO of Koh Brothers, said: “Despite a softer economic outlook as well as the authorities’ continued efforts to curb speculative behaviour in the real estate sector, we were successful in leveraging on the Group’s established capabilities and strong brand name to record growth in the first quarter. We are particularly encouraged by the contributions from our latest real estate development, Parc Olympia.”

“The year to date has also been exciting with new developments, as we secured an approximate S$100 million contract from the PUB, giving a boost to our construction and building materials division, and also expanded the Group’s outreach into the regional water and wastewater sector, with the completion of our strategic acquisition of 41 percent stake in Metax Engineering Corporation Ltd in February.” 



Shabnam Muzammil, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email shabnam@allproperty.com.sg