KSH Holdings’ net profit jumps by 48% to $61.5m

On back of a significant profit boost from China.

The construction firm is up for some acquisitions as it enjoys a cozy net cash position, thanks to a significant increase in the share of results of associates to $48.4m from just $26.5m last year.

According to a report from OCBC, however, this was partially offset by higher personnel and various operating expenses.

“The boost in share of results of associates was mainly attributed to a S$15.0m contribution from Liang Jing Ming Ju Phase 4 in Beijing, China, as well as higher revenue recognized at domestic development property projects,” the report said.

Revenues, however, stayed mostly flat at $245.5m as construction revenues dipped by 0.3% and rental income from investment properties grew 1.5% YoY to S$6.3m, OCBC said.

“Overall, we judge this set of results to be within expectations and FY16 PATMI constituted 105.7% of our FY16 forecast. A final and special cash dividend of 1.50 S-cents and 0.50 S-cents per share was also proposed,” OCBC added.