KSH full-year net profit grew 84.6% to S$37.6m

FY2013 performance propelled by rising revenue.

In a release, property developer and construction firm KSH Holdings Limited (KSH Holdings) announced that its net profit grew 84.6% to S$37.6 million while its net profit attributable to shareholders almost doubled to S$36.3 million for the year ended March 31, 2013 (FY2013). The company said this was achieved on the back of a 41.8% rise in project revenue to S$206.1 million and increase in share of results of associates of S$16.7 million for FY2013.

Commented Mr Choo Chee Onn, Executive Chairman and Managing Director of KSH Holdings, “FY2013 has been an eventful year that saw KSH achieve several milestones as we strategically rebalanced our portfolio between construction and property development, the fruition of which is clearly seen in our strong results performance. In FY2013, the Group’s bottomline was driven by higher profits recognition from several of our joint-venture property development projects, as well as an increase in revenue from our construction business.”

“KSH has also made progress in our plans to diversify the Group’s geographical presence. In March 2013, we raised net proceeds of S$13.8 million from our placement, in which a large proportion is earmarked to support the Group’s operations and expansion plans in Singapore, Southeast Asia and Peoples’ Republic of China. I am pleased that following the placement, KSH won our first construction project in Beijing for a mixed property development project comprising condominiums, office and commercial units.

KSH also announced a final dividend of 1.15 cents per share, which would bring the total dividend payout for FY2013 to 2.5 cents per share.