Singapore-listed Koon Holdings says its first half net profit has surpassed the full year net profit it recorded last year.

The firm earned 4.7 million dollars in the six months ended June, overturning the loss of 3.5 million dollars from a year earlier.

For the whole of 2008, Koon Holdings made a net profit of 1.97 million dollars.

The surge in first half net profit was fuelled by a 27.4 percent increase in revenue to 70.1 million dollars, thanks to progress in major projects under its construction division.

Construction remains the group's top money earner contributing 92.9 percent of total revenue.

Going forward, the group expects this segment to remain strong with an influx of three public sector projects worth 63 million dollars.

Among these were the road, drain, sewer and soil improvement works on Jurong Island and construction works for the wetlands at Lorong Halus Landfill.

Given its competitive advantage in marine engineering, the firm hopes to ride on the burgeoning coastal engineering sector and upcoming mega scale projects including the much-anticipated International Cruise Terminal at Marina South