SINGAPORE (Aug 11): KSH Holdings, the construction, property development and property management group, announced 1Q18 earnings dropped 40.8% to $6.05 million from $10.2 million in 1Q17.
Revenue for the first quarter ended June stood at $28.5 million, a 53.6% decrease from the same period last year. This was mainly due to lower contributions from the Construction segment, as a result of delays in handing over of sites for two new projects. The group says that it has since taken over the sites and commenced work for these projects.
The construction segment posted 1Q18 revenue of $26.9 million, a 55.2% decline from $60.0 million in 1Q17.
