Construction firm and developer KSH Holdings' full-year net profit up 47.6%

SINGAPORE - Construction firm and developer KSH Holdings reported on Monday (March 30) a 47.6 per cent rise in full-year net profit for the 12 months to March 31.

Net profit for the year rose to S$61.5 million, compared with the same period a year earlier. Revenue dipped 0.3 per cent to S$245.5 million for the period.

The firm said the strong bottomline performance was boosted by a 82.8 per cent rise in its share of results of associates, mainly due to S$15 million contribution from sales revenue recognised upon completion of the Liang Jing Ming Ju Phase Four Sequoia Mansion project in Beijing, and higher revenue recognised on the percentage of completion of Singapore development property projects.

Full-year earnings per share was 13.72 cents, up from 9.18 cents a year earlier, while net asset value per share was 65.44 cents at at March 31, up from 55.79 cents in the same period.

KSH Holdings proposed a final and special cash dividend of 1.5 cents and 0.5 cent per share, to thank shareholders for their support.

This brings the total dividends declared in the financial year to 3.55 cents per share, compared with 2.75 cents per share a year ago.