Kian Ann profit up 13% to S$19m

Sales increased by 4.7% to S$170 million for FY2012.

Kian Ann Engineering Limited said net profit attributable to owners of the parent grew by 13% to S$19.0 million for the 12 months ended 30 June 2012.

The Group’s sales increased from S$162.3 million in FY2011 despite slower sales growth in the second half of FY2012.

“Notwithstanding the lower demand of parts from the forestry sector in Malaysia and a general reduction in demand of parts from China and India, the Group recorded an overall increase in its sales,” said Kian Ann in the announcement.

According to Kian Ann, the rise was mainly driven by the growing demand for parts from the mining sector of Indonesia and other ASEAN countries as well as strong sales to non-Asian countries.

Meanwhile the general increase in demand for parts from the construction and infrastructure sectors in Singapore also contributed to the sales growth.

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