This was mainly due to a 34.6% y-o-y drop in project revenue to $126.6 million, but partially offset by a 7.4% increase in rental income from investment properties to $6.09 million.
Share of results of joint ventures rose 92.6% y-o-y to $11.1 million, lifted by profit recognised on construction progress of a residential project that has been fully sold.
However, share of results of associates recorded a loss of $3.1 million compared to a profit of $8.5 million in FY17 due to lower sales and percentage-of-completion revenue recognised on Singapore development projects, and loss recognised from the sales of development properties developed by an associated company in Singapore
KSH has proposed a final cash dividend of 1.20 cents per share, bringing the total dividends declared for FY18 to 2.20 cents per share.
Barring unforeseen circumstances, the group is cautiously optimistic on the outlook of its performance for FY19.
Shares in KSH closed at 65 cents on Wednesday.
