By Romesh Navaratnarajah: Singapore-based developer Koh Brothers Group recorded a net profit of S$19.7 million and S$299.5 million in revenue last year. While revenue for 2012 was lower than in the previous year, gross profit was up 13 percent to S$50.1 million.
Meanwhile, gross profit margin inched up 3.7 percent to 16.7 percent from 13 percent previously.
Earnings per share also increased to 4.23 cents in FY2012 from 4.19 cents previously.
"We are pleased to have turned in a sound performance for the year amidst challenges surrounding global markets and volatility in the local property sector," said Francis Koh, Managing Director and Group CEO of Koh Brothers.
"2012 had been a year of exciting developments, as we launched our latest property development, the 486-unit sporting themed Parc Olympia condominium, secured new contracts, entered into strategic joint ventures and announced the proposed acquisition of an EPC (Engineering, Procurement & Construction) player to broaden our capabilities in the water and wastewater sector."
Moving forward, the firm remains upbeat on the property market.
"While knee-jerk reactions to the latest round of cooling measures are inevitable, we remain positive on a stable outlook for Singapore's property sector. The implemented measures are targeted primarily at curbing speculative buying behaviour and are aimed at creating a stable and sustainable property market for Singapore," Koh said. Image: Artist's impression of Parc Olympia, a new condo development by Koh Brothers Group. Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email email@example.com Related Stories:CapitaLand to develop township in Iskandar Malaysia
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