SINGAPORE (Nov 14): KSH Holdings has posted 2Q17 earnings of $8 million, down 65.5% from $23.2 million a year ago, mainly due to the absence of share of results of associates booked in the previous year.
The property developer and construction firm reported 9.8% growth in revenue to $68.2 million compared to $62.1 million the year before. This was mainly attributed to a 10.6% increase in revenue from the construction business, which was partially offset by a fall in rental income from investment properties.
Share of results of associates for the quarter fell 87.8% to just $2.7 million in comparison to $22.2 million in 2Q16.This was due to the absence of $15.8 million contributed from Liang Jing Ming Ju Phase 4 – Sequoia Mansion in Beijing, China, of which profit of sold units were recognised last year.
