Koh Brothers Group, the construction, property development and specialist engineering solutions provider, announced earnings of $2.6 million for the three months ended June 30, 2012 (2Q2012).
Backed by an increase in contributions arising from higher contributions from the sale of building materials, gross profit for 2Q2012 rose 15% to $10.5 million, from $9.1 million in the corresponding financial period (2Q2011). This was achieved despite a 32% dip in revenue to $50.9 million for 2Q2012, which was mainly due to lower construction revenue recognition in the period under review.
The group said it continued to practice prudent cost controls, achieving a 8.4 percentage point increase in gross profit margin to 20.6%, from 12.2% in 2Q2011.
For the six months ended June 30, 2012 (1H2012), the group achieved earnings of $5.8 million, on revenue of $109.5 million. This compares against earnings of $5.5 million on revenue of $156.6 million for the six months ended June 30, 2011 (1H2011).
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