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Singapore-listed Koh Brothers Group registered a 22 percent increase in net profit attributable to shareholders to S$7.6 million in Q4 2015, compared to S$6.2 million in Q4 2014.
The group’s sales also rose 10 percent to S$112.28 million from S$102.30 million in Q4 2014, with the increase mainly contributed by the construction and building materials divisions.
However, gross profit fell 20 percent to S$11.74 million primarily due to lower gross profit margins.
For the year ended-2015, sales increased eight percent to S$427.32 million, while gross profit dropped 12 percent to S$54.93 million.
Due to lower margins earned, coupled with an increase in expenses, depreciation and a rise in other income due to interest income earned, net profit attributable to shareholders slipped six percent to S$27.9 million from S$29.5 million in 2014.
Nonetheless, the group noted that its balance sheet remain healthy with cash and cash equivalents of S$64.5 million as well as shareholders’ equity of approximately S$257.2 million as at 31 December 2015.
Earnings per share for the 12 months ended 31 December 2015 slightly fell to 6.69 cents from 6.76 cents in 2014, while net asset value per share climbed to 61.98 cents.
Looking ahead, Francis Koh, Managing Director and Group CEO of Koh Brothers, said the group remain cautiously optimistic of the construction industry, given the escalating costs.
“Having recently won the S$1.12 billion contract win from Changi Airport Group with our joint venture partner, Samsung C&T Corporation, we hope to clinch more of such large-scale contracts this year,” he said.
Image: Concept plan for Changi Airport Terminal 5 (Source: Koh Brothers)
Nikki De Guzman, Editor at CommercialGuru, edited this story. To contact her about this or other stories email nikki@propertyguru.com.sg
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