Koh Brothers Group (K75) H1 2026 earnings summary

Executive summary

• H1 revenue rose 24.0% to $188.001m from $152.162m, driven mainly by Construction and Building Materials; gross profit fell to $13.102m from $18.632m on higher material and procurement costs.

• Profit before tax was $1.54m versus $7.68m; profit after tax was $0.127m versus $6.147m, and profit attributable to equity holders was $1.345m versus $2.625m. EPS declined to 0.33 cents from 0.64 cents.

• A ~$1.0bn construction order book provides project visibility to 2029.

Financial highlights

• Administrative expenses rose 38.0% to $12.560m, mainly on higher legal and professional fees; other income fell 58.0% to $0.6m, mainly on lower interest income.

• Finance expense decreased to $2.638m from $3.683m; other gains, net, were $0.2m, mainly unrealised FX gains and PPE disposal, partly offset by an investment-property fair-value loss.

• Total comprehensive loss was $3.111m versus income of $8.278m, including a $3.416m fair-value loss on equity financial assets at FVOCI.

Outlook and guidance

• BCA forecasts construction demand of $47bn–$53bn in 2026 and $39bn–$46bn annually from 2027 to 2030.

• Priorities include safe, timely project delivery, cost discipline, recovery of variation-order costs where appropriate, and pursuing work aligned with core capabilities.

• Capital deployment remains prudent, with selective land-bank replenishment amid macroeconomic uncertainty and property-market risks.