KSH Holdings Limited has reported earnings of $10.1 million for 1HFY2023 ended Sept 30, up 2.5% y-o-y. Revenue in the same period was up $141.6 million, up 24.5% y-o-y.
While construction revenue improved following the pandemic disruptions, the company’s rental income from its investment properties in China suffered.
“We are heartened by the Group’s continued financial resilience, with improvement from our core construction segment,” says executive chairman and managing director Choo Chee Onn (picture).
“We are focused on the smooth execution of our healthy order book of over $393 million, which is expected to contribute to the group’s financial results up to the financial year ending March 2025.”
The company plans to pay an interim dividend of a cent per share, representing a payout ratio of 55.9%.
The company has three on-going property development joint ventures in Singapore.
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They are at District 9 Peace Centre / Peace Mansion, the redevelopment of the Euro-Asia Apartments at 1037 Serangoon Road into a 172-unit apartment block, as well as Park View Mansions at Yuan Ching Road within to Jurong Lake District.
In addition, KSH says its other on going development called the Singapore Sino Health City in China’s Gaobeidian county is “progressing well”, with more than 70% of the units launched in Phases 1 and 2 sold.
Last month, KSH announced it has an effective stake of 33.75% in another mixed development also in Gaobeidian. This project is expected to contribute positively to the company’s current FY earnings.
KSH shares closed Nov 11 at 36 cents, up 2.86% for the day.
