Builder Low Keng Huat (Singapore) says it posted a 28% rise in net profit attributable to equity holders to $16.6 million for the three months ending Oct 31, 2009, from $12.9 million a year ago mainly due to higher construction profit and investment gain. This was however offset by lower profit from hotels.

Revenue rose 292% to $205 million from $52.3 million in the same period mainly due to increases in construction revenue. Development and investment revenue were not significant.

Gross profit increased by $21.3 million to $16.5 million from $7.2 million led by bigger contributions from the construction segment with projects such as Meritus Mandarin Hotel and Hard Rock Hotel at Sentosa.