KSH Holdings posts 22.8% jump in profit, raises dividend payout

SINGAPORE - Construction and property group KSH Holdings has posted a 22.8 per cent jump in net earnings to $44.5 million.

Revenue for the year to March 31 climbed by 41 per cent to $324.5 million, thanks to higher construction revenue, and sales of development property in Singapore and China.

Its share of results from associates jumped by 66.2 per cent to $27.7 million, mainly due to the contribution from property development projects in Singapore.

Earnings per share rose to 10.75 cents from 9.48 cents previously while net asset value per share climbed by 8.83 cents to 52.37 cents.

"Our core construction business in Singapore remains strong, with a construction order book of more than $410 million as at March 31, which will contribute to the group's financial performance over the next two years," said KSH executive chairman and managing director Choo Chee Onn.

KSH won a $76.9 million contract in February to build a mixed-use development at King Albert Park - KAP and KAP Residences.

Last December, it was awarded a $42.5 million contract by United World College of South East Asia for the construction of an additional block at their existing campus in Dover Road.

Earlier, it also won a $98.9 million contract to build a mixed-use development, NeWest at West Coast Drive.

The company proposed a final dividend of 1.75 cents a share, up from 1.15 cents last year.

Total payout for the year amounted to three cents a share. This translates to a dividend yield of 5.4 per cent.