Koh Brothers reports 151% y-o-y earnings jump for 1HFY2022
Koh Brothers Group has disclosed earnings of $5 million for 1HFY2022 ended June, up 151% over the year earlier’s $2 million.
As at June 30, cash money as well as financial institution balances was $103.9 million; current ratio was 1.7 x with final gearing ratio of 0.8 x.
Koh Brothers shares closed at 17 cents on Aug 5, up 4.43%.
In addition to a pick up in construction projects from the pandemic interruptions, the firm reported a gross profit of $11.7 million, up 43% y-o-y. Gross margin improved to 7.4% from 5.8% in 1HFY2021.
“As a developed, market boutique property developer, we will certainly continue to wisely seek chances to create distinct ‘lifestyle-and-theme’ projects, either independently or through collaborations with experienced partners,” he says.
Koh Brothers liked other gains of $7.9 million from sale of residential property, plant as well as equipment, which was somewhat countered by lower reasonable price gain from investment properties.
Profits in the exact same period was up 13% y-oy to $158.9 million, due to greater earnings recognition from its construction and realty services.
The firm assumes the construction industry to “remain difficult” with stiffer rivalry, supply chain interruptions, manpower troubles, higher energy and also products expenses.
Francis Koh, the company’s managing supervisor and also group chief executive officer claims there’s a steady recovery in building and construction project from 2021.
“We stay securely concentrated in improving productivity by accepting technology and also innovation, and using financial technique as well as price control strategies, to much better manage obstacles on the back of an affordable setting, labour scarcities, high power and construction costs,” he says.
“We will certainly additionally remain to leverage on our strong track record and proficiency to tender for greater worth and more building work as interest for public and private building and construction projects elevates,” includes Koh.
Koh adds that sales of its Van Holland residential assignment has actually remained to “make progress”.