Low Keng Huat posts 13% drop in 1Q earnings to $3.3 mil

SINGAPORE (June 16): Builder Low Keng Huat saw first quarter revenue drop 41% to $15.8 million while earnings declined 13% to $3.3 million.

Topline was affected by the construction business which saw zero third-party project and recognised no revenue during 1Q17 compared to $12.8 million in 1Q16.

Meanwhile, revenue for the Hotel and F&B businesses decreased by $300,000 to $9.5 million, mainly due to lower rates and occupancy in Duxton Perth.

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