Thanks to lower tax rates, robust JV contributions.
KSH Holdings raked in $13.8m in Q3 profits, reflecting a 21.3% leap thanks to higher construction gross margin (which surged 6.1 percentage point to 21.5%), robust contributions from associates and joint ventures, and a lower tax rate.
According to OCBC, KSH management reported that more than 85% of the launched residential units in its portfolio have been sold with about $286.4m in attributable progress billings to be recognised ahead.
Additionally, construction for the Phase 1 development of the Gaobeidian township in China is well on track.
KSH’s orderbook for its construction segment continues to stay at a health $270m. The company’s management expressed that it is cognizant of the climbing costs in the construction space, and is taking a pro-active approach in utilizing technology and innovation to boost productivity as well as the utilization rate of equipment.
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