Rental income from investment properties increased by 3.6% to $1.45 million from $1.40 million in the previous year.
Hence, revenue for the quarter came in at $43.0 million, 19.7% higher than $35.9 million last year.
Cost of construction was 21.1% higher at $32.1 million from $26.5 million a year ago, mainly due to the increase in construction works done during 3Q18.
Finance costs increased by 166.8% to $491,000 compared to $184,000 last year.
Hence, total operating expenses for the quarter was $38.0 million, 14.8% higher than $33.1 million a year ago.
Share of results of associates dropped 89.4% to $124,000 compared to $1.17 million in the previous year.
Choo Chee Onn, executive chairman and managing director of KSH says, “Alongside our partners, we continue to take a prudent stance on accumulating attractive sites both in Singapore and abroad to ensure sustainable long term growth. Concurrently, we continue to selectively tender for strategic construction projects that offers healthy margins to strengthen our order book.”
Shares in KSH Holdings closed 2 cents lower at 70 cents on Friday.
