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KDH - Modest Q3 performance despite resilient top line - Earnings Flash

KDH posted modest Q3 results despite resilient top line as financial expense & SG&A have soared since the company’s expansion to develop multiple projects. Q3 top line grew 61% Y-o-Y, mostly driven by revenue recognition from its projects, including Melosa Garden, Mega Village and the Venica. 9M 2016 revenue grew 126% Y-o-Y and fulfilled 78% of our forecast