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KDH - Strong deliveries fuel FY16 earnings - Earnings Flash

KDH’s FY16 revenue beat our projections due to several unexpected project transfers. However, as these divestments carried very slim margins, the bottom line came in broadly in line with our expectation. FY16 NPAT jumped 45% vs FY15 largely thanks to deliveries at Melosa Garden, Mega Village and The Venica projects.