1H results

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.

FPSO pipeline for Dyna-Mac looks encouraging but competition is heating up

SINGAPORE (Aug 31): Dyna-Mac Holdings, the engineering, procurement, and construction services provider to the marine construction and offshore oil & gas industries, reversed out of the red in 1H18 with earnings of $1.21 million, compared to a loss of $22.2 million in 1H17.

2Q18 saw earnings of $1.04 million, compared to a loss of $12.5 million in 2Q17.

Revenue for 1H18 more than quadrupled to $59.8 million from $13.5 million last year, which made up 60% of CGS-CIMB’s full-year forecast.

DBS Group announces its biggest 1H dividend, but is it sustainable?

SINGAPORE (Aug 20): Banking stocks are typically a favourite dividend play of investors who hunt for yield. This is because as banks grow, they tend to reward shareholders with a steady payout that usually increases gradually.

BreadTalk posts 10.5% increase in 2Q earnings to $2.44 mil on higher interest income

SINGAPORE (Aug 1): BreadTalk today announced that its 2Q18 earnings have increased by 10.5% to $2.44 million from $2.20 million in 2Q17 on higher interest income.

In a media release issued on Wednesday, the group also attributed its increase in earnings to its effective cost management and diversity of brand portfolio.

This brings 1H18 earnings to $3.62 million, 72.2% lower than $13.0 million in 1H17, mainly due to higher expenses.

Dairy Farm's long term prospects intact but opex expected to stay high over next 2 years: RHB

SINGAPORE (July 30): RHB Research is downgrading Dairy Farm International (DFI) to “neutral” from “buy” with a lower target price of US$9.60.

In a Monday report, RHB analyst Juliana Cai says, “While we are positive on long-term prospects, we expect to see operational expenditure remaining high over the next 12-24 months as it restructures and invest in stores and IT infrastructure.”

To recap, DFI reported a 6% in 1H18 earnings to US$225 million ($306.2 million) from its 1H17 restated earnings of US$212 million.

DBS cuts Dairy Farm to 'neutral' on mixed bag of results, less positive outlook

SINGAPORE (July 27): DBS is downgrading its recommendation on Dairy Farm International (DFI), a member of the Jardine Matheson Group, to “hold” from “buy” previously with a lower target price of US$9.35 ($12.73).

In a Friday report, analyst Alfie Yeo says, “We turn neutral on DFI on a slower growth outlook coupled with strong total share price (including dividends) performance (+20%) in the past year. We project earnings growth at a slower pace in FY18F, dragged by lower contribution from associate income especially Yonghui, and higher operating costs.”

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