The company posted a 74% increase in other gains to $15.0 million in FY 2022, mainly due to higher gain recognised from the disposal of property, plant and equipment. Share of profit from associated companies and joint ventures declined 46% to $1.6 million in FY 2022due to lower contribution from an investment property resulting from higher borrowing costs.
Koh Brothers Group announced 13% y-o-y decline in net profit to $6 million for the 12 months to Dec 31, 2022, the company’s FY2022. This is despite a 72% rise in revenue to 39% to $350.7 million and a 21% increase in gross profit to $26.0 million for the same period.
Gross margins improved for Koh Brothers’ Construction and Building Materials division.
