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COMMERCIAL PROPERTY | Staff Reporter, Singapore

KSH’s profits surge 21.3% to $13.8m in Q3

Thanks to its projects’ increased percentage of completion.

KSH Holdings’ (KSH) net profit for Q3 jumped 21.3% to $13.8m, thanks to a 25.8% jump in contribution from share of results of associated companies.

According to the property development and management group, the 25.8% increase in share of results of associates to $8.8m is due mainly to an increase in percentage of completion recognised on Singapore property development projects.

The group expects construction and operating expenses to rise, and are taking a proactive step in using technology and innovation to drum up efficiency and productivity. It is also boosting training for its workers, and ramping up the utilisation rate of its equipment to optimise construction margins.

Barring unforeseen circumstances, KSH reports that its is cautiously optimistic on the outlook of its performance for the FY16.

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