In spite of the higher revenue, cost of sales fell 38% to $1.9 million from $3.1 million a year ago.
Administrative expenses however grew 32% to $5 million from $3.8 million in 3Q17 due to net foreign exchange (forex) losses from the translation of payables from USD to SGD.
For the nine months ended Dec 2017, KOP booked earnings of $2.1 million, down 55% from $4.5 million in 3Q17.
In view of macro uncertainties and downturn of the global economy, the group says it will focus on the growth of its existing businesses and will only expand cautiously under opportunistic and strategic circumstances. In the meantime, KOP says its hospitality segment and property investment in Grade-A Prudential Tower continues to contribute healthy recurring income.
Shares in KOP closed 2.35% lower at 8.3 cents.
