KSH Holdings has reported a net loss of $6.5 million for the 1HFY2025 ended September, up 48.6% y-o-y from a loss of $12.6 million in the same period last year.
Loss per share stood at 1.17 cents, as compared to a loss per share of 2.23 cents in 1HFY2024.
Meanwhile, the group’s revenue was down 64.3% y-o-y at $52.7 million for 1HFY2025, due to lower revenue from the KSH’s construction business, which registered a $95.8 million decrease to $50.0 million in the same period. This came on the back of the completion of various projects awarded just before or during the Covid-19 pandemic, while projects awarded and commenced post-pandemic period were still in the early stages of construction.
For the period, cost of construction saw a decrease of $104.3 million to $45.2 million, due to a reduction in construction works. That said, the group says the construction business has since turned around with a positive gross profit margin in 1HFY2025.
Finance costs decreased by $1.5 million to $2.6 million in 1HFY2025, mainly attributed to lower gearing while other operating expenses decreased by $0.3 million to $3.1 million due to a decline in unrealised foreign exchange losses.
As at Sept 30, the group’s fixed deposits, cash and bank balances, totalled over $120.7 million, while gearing ratio stood at 0.28 times. The group’s total loans and borrowings dropped to $85.3 million for 1HFY2025, from $133.6 million in the same period last year.
See also: GKE Corp expects 1HFY2025 earnings to be a 'significant' increase over 1HFY2024
KSH Holdings says the group will be proposing an interim cash dividend of 0.5 cents.
Shares in KSH Holdings closed flat at 19.8 cents on Nov 14.
