Homepage
PR Newswire
24-05-2011, 06:57 AM
Business Times - 24 May 2011
KSH earnings climb 20% to $21.59m
Cost efficiencies help lift profit despite 10% decrease in revenue
By JOYCE HOOI
KSH Holdings posted a 20 per cent increase in net profit for the full year ended March 31, 2011, from $17.98 million to $21.59 million.
Revenue for the same period dipped 10 per cent from $290.9 million to $262.8 million.
KSH had in February reported a net profit attributable to shareholders of $16.49 million for the nine months ended Dec 31, 2010, on revenue of $206.8 million.
The drop in full-year revenue was attributed to the decrease in revenue from the group's construction business, which fell 9.8 per cent from $285.4 million in FY2010 to $257.3 million in FY2011.
The decrease was partially offset by a $5.6 million increase in revenue from one completed project, on-going projects of about $87.7 million that have reached the more advanced stages of construction, and new projects of about $8.9 million.
Rental income from investment properties inched up by about $0.6 million in FY2011 compared to FY2010. This, however, was offset by the decrease in rental income from development property of about $0.6 million.
Cost efficiencies helped to prop up the bottom line, with pre-tax profit from the group's core construction business and property development and management business segment increasing 27 per cent to $29.3 million in FY2011 from $23 million in FY2010.
'Amidst uncertainties in the global and domestic economic conditions and the inflationary pressure on business operation costs, we have sought out new and viable construction projects, enabling our core construction business to register profit before taxation improvement,' said Choo Chee Onn, executive chairman and managing director of KSH Holdings.
'The business continues to be robust, backed by strong existing order books of over $245.0 million as at May 19, 2011.'
A final dividend of one cent per share has been declared for FY2011, bringing the total dividend to two cents per share. KSH is also proposing to adopt a scrip dividend scheme, which it wants to implement for FY2011 if it is approved.
Earnings per share for the group stood at 6.72 cents for FY2011, down from 7.05 cents from the year before.
KSH shares closed yesterday half a cent down at at 25 cents.
(Not Vested)
KSH earnings climb 20% to $21.59m
Cost efficiencies help lift profit despite 10% decrease in revenue
By JOYCE HOOI
KSH Holdings posted a 20 per cent increase in net profit for the full year ended March 31, 2011, from $17.98 million to $21.59 million.
Revenue for the same period dipped 10 per cent from $290.9 million to $262.8 million.
KSH had in February reported a net profit attributable to shareholders of $16.49 million for the nine months ended Dec 31, 2010, on revenue of $206.8 million.
The drop in full-year revenue was attributed to the decrease in revenue from the group's construction business, which fell 9.8 per cent from $285.4 million in FY2010 to $257.3 million in FY2011.
The decrease was partially offset by a $5.6 million increase in revenue from one completed project, on-going projects of about $87.7 million that have reached the more advanced stages of construction, and new projects of about $8.9 million.
Rental income from investment properties inched up by about $0.6 million in FY2011 compared to FY2010. This, however, was offset by the decrease in rental income from development property of about $0.6 million.
Cost efficiencies helped to prop up the bottom line, with pre-tax profit from the group's core construction business and property development and management business segment increasing 27 per cent to $29.3 million in FY2011 from $23 million in FY2010.
'Amidst uncertainties in the global and domestic economic conditions and the inflationary pressure on business operation costs, we have sought out new and viable construction projects, enabling our core construction business to register profit before taxation improvement,' said Choo Chee Onn, executive chairman and managing director of KSH Holdings.
'The business continues to be robust, backed by strong existing order books of over $245.0 million as at May 19, 2011.'
A final dividend of one cent per share has been declared for FY2011, bringing the total dividend to two cents per share. KSH is also proposing to adopt a scrip dividend scheme, which it wants to implement for FY2011 if it is approved.
Earnings per share for the group stood at 6.72 cents for FY2011, down from 7.05 cents from the year before.
KSH shares closed yesterday half a cent down at at 25 cents.
(Not Vested)
My Value Investing Blog: http://sgmusicwhiz.blogspot.com/