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by Cheryl Tay
Property developer KSH Holdings Limited achieved a 66 percent increase in net profit to S$1.7 million for the three months ended 30 June 2012 (Q1 FY2013), coupled with a net profit attributable to shareholders of S$4.3 million.
The strong results were achieved on the back of a 35.3 percent increase in the group’s revenue to S$55.2 million for Q1 FY2013.
“We are pleased with this quarter’s results and we view the enhanced growth as the fruit of an ongoing rebalancing of our portfolio between construction and property development,” commented Choo Chee Onn, Executive Chairman and Managing Director of KSH Holdings.
“In (the) construction business, we have a good mix of projects in both public and private sectors and in property development, we are pleased that property sales from the launched projects have started to contribute to the Group’s financial performance this quarter,” he added.
Separately, Tiong Seng Holdings Limited posted a six percent increase in net profit attributable to equity holders, amounting to S$9.7 million, for the second quarter ended 30 June 2012 (Q2 2012).
The increase was attributed to higher revenue from sales of Cobiax products, construction contracts as well as rental income that boosted the group’s revenue by 55 percent to S$130.0 million.
Buoyed by these strong results, Tiong Seng’s net profit attributable to equity holders for H1 2012 was boosted by 30 percent to S$14.8 million, while revenue increased to S$233.0 million.
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