1H earnings

Sinarmas Land records almost sevenfold increase in 1H earnings to $331 mil on higher revenue, exceptional gains

SINGAPORE (Aug 14): Sinarmas Land reported 1H19 earnings increased nearly sevenfold to $330.8 million from a year ago on exceptional gain.

In 1H19, revenue increased 46.0% to $560.9 million from $384.3 million a year ago, mainly due to higher sales of commercial and industrial land parcels in Indonesia and higher sales of residential units in BSD City, Indonesia.

Cost of sales increased 55.2% to $177.2 million, resulting in gross profit for 1H19 coming in 42.1% higher at $383.8 million a year ago.

World Class Global 1H earnings surge sevenfold to $11 mil on sales recognition

SINGAPORE (Aug 6): Developer World Class Global recorded a sevenfold jump in earnings to $11.0 million in 1H19 from $1.6 million in 1H18.

The earnings surge was mainly due to the recognition of revenue of $158.1 million from the settlement by the purchasers of Australia 108 and AVANT in 1H19, decrease in net foreign exchange loss, partially offset by an increase in sales commission and employee benefits.

Revenue for 1H19 fell 2% to $158.1 million from $160.8 million in 1H18.

Cost of sales fell 14% to $121.3 million.

Thakral posts 31% drop in 1H earnings to $2.8 mil

SINGAPORE (Aug 6): Thakral Corporation reported earnings of $1.8 million in 2Q19 ended June, 7% higher than the earnings of $1.7 million in 2Q18.

This brought 1H19 earnings ended June to $2.8 million, 31% lower compared to earnings of $4.0 million in 1H18.

For 1H19, revenue came in at $50.4 million, 40% lower than $84.1 million a year ago.

BreadTalk posts 35.3% drop in 1H earnings to $2.3 mil on increased expenses

SINGAPORE (Aug 1): BreadTalk recorded a 35.3% fall in 1H19 earnings ended June to $2.3 million, compared to $3.6 million in 1H18.

The weaker bottomline was mainly the result of an increase in the group's distribution and selling expenses, which was 39.4% higher at $169.2 million from $121.4 million last year.

In addition, the group saw the inclusion of leases expense of $7.3 million in 1H19 due to the adoption of the new SFRS(I) accounting method.

Revenue for 1H19 saw a 7.9% increase to $321 million from $297.4 million a year ago.

HPHT declares 30% lower interim DPU of 6 HK cents on higher financing and investing activities

SINGAPORE (July 24): Hutchison Port Holdings Trust (HPHT) has announced an interim distribution per unit of 6.00 HK cents, down nearly 30% from 8.52 HK cents a year ago.

This comes as distributions to unitholders fell to HK$738.7 million from HK$966.9 million.

However, net cash from operating activities rose 42.1% to HK$2.6 billion in 1H19 from HK$1.8 billion in 1H18.

In addition, net cash used in investing activities fell 23% to HK$161.8 million from HK$210.5 million.

Civmec posts 76.3% drop in 2Q earnings to $1.22 million on lower revenue and higher finance costs

SINGAPORE (Feb 14): Civmec announced 2Q19 earnings fell 76.3% to A$1.26 million ($1.22 million) compared to A$5.31 million in 2Q18.

This brings 1H19 earnings to A$5.81 million, 24.0% lower than A$7.65 million in 1H18.

Revenue for 2Q19 declined 21% to A$134.9 million from A$170.7 million a year ago, due to projects completing in the period.

As cost of sales also dropped by 20.4% y-o-y to A$130.9 million, gross profit for 2Q19 came in at A$4.03 million, 36.2% lower than A$6.31 million in 2Q18.

Jubilee Industries on track for strong growth recovery in FY19: CGS-CIMB

SINGAPORE (Nov 27): Jubilee Industries posted 1H19 earnings of $2.57 million, more than triple that of $0.81 million in 1H18, mainly due to higher revenue and higher currency translation differences.

Revenue for the half year ended September came in at $88.4 million, 1.1% higher than $87.5 million in the previous year, mainly due to higher contribution from the group’s Mechanical Business Unit (MBU), but was partially offset by lower contribution from its Electronic Business Unit (EBU).

Move to replace broadband with fibre network to bode well for NetLink NBN Trust

SINGAPORE (Nov 7): Analysts are remaining upbeat on NetLink NBN Trust, as Maybank KimEng and OCBC Investment Research are maintaining their “buy” calls on the trust with a target price of 93 cents and 90 cents, respectively.

This came on the back of the trust posting DPU of 2.44 cents for 1H19, as revenue increased by 172.9% to $176.7 million, compared to $64.8 million last year and 4.8% higher than projection.

This was mainly due to higher diversion revenue and ducts and manholes service revenue.

NetLink NBN Trust posts 1H DPU of 2.44 cents; earnings outperforms projections

SINGAPORE (Nov 2): NetLink NBN Trust, which listed on July 19, 2017, posted 1H19 DPU of 2.44 cents.

This came on the back of 1H19 earnings of $37.7 million, 21.4% higher than 1H19 projection of $31.1 million.

Revenue for the period increased by 172.9% to $176.7 million, compared to $64.8 million a year ago and 4.8% higher than the projection, mainly due to higher diversion revenue and ducts and manholes service revenue.

This was partially offset by the lower than projected installation-related revenue.

Duty Free posts 12.6% fall in 2Q earnings to $4.1 mil on lower sales

SINGAPORE (Oct 10): Duty Free International (DFI) reported 2Q19 earnings fell 12.6% to RM12.3 million ($4.09 million), compared to RM14.1 million in 2Q18.

This brings 1H19 earnings to RM21.3 million, 26.7% lower than RM29.1 million in 1H19.

Revenue for the quarter was 21.8% lower at RM114.4 million from RM126.3 million last year, largely due to lower availability of certain popular products for sale.

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