1H results

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.”

Mandarin Oriental's 1H earnings up 49% to $30.3 mil

SINGAPORE (July 26): Mandarin Oriental International, a member of the Jardine Matheson Group, announced 1H18 earnings rose by 49% to US$22.3 million ($30.3 million) from US$15.0 million in 1H17.

Revenue for the six months ended June was US$307.9 million, 7.4% higher than $286.7 million recorded in the previous year.

Hotel performance was higher in 1H18 due to improved performances across most of the group’s portfolio, especially Hong Kong, Singapore, Bangkok and Tokyo. Paris also saw signs of recovery after several years of weak demand.

Asian Healthcare Specialists sees 1H earnings surge nine-fold to $1.4 mil

SINGAPORE (June 5): Asian Healthcare Specialists saw its earnings surge more than nine-fold to $1.4 million for the 1H ended March, from $0.2 million a year ago.

This was mainly attributable to a steep drop in expenses from purchased and contracted services, which fell 98.3% to $64,000 during the half-year period, from $3.7 million a year ago.

The decrease was due to termination of the consultancy services agreements with four of its orthopaedic specialists, which were replaced with the commencement of employment agreements with them.

Nam Lee Pressed Metal posts 2.8% rise in 1H earnings to $5.54 mil

SINGAPORE (May 4): Nam Lee Pressed Metal Industries announced a 2.8% rise in 1H18 earnings to $5.54 million from $5.42 million in 1H17.

Revenue for the six months ended March came in at $85.8 million, 27.6% higher than $67.2 million in the previous year, mainly due to an increase in revenue from the aluminium segment.

Similarly, cost of sales increased 29% y-o-y to $70.3 million, bringing gross profit for the period to $15.5 million, 22.0% higher y-o-y.

A bigger hong bao for Avi-Tech this season

SINGAPORE (Feb 19): Avi-Tech Electronics on Feb 13 announced that its 2Q18 earnings fell 6.7% to $1.67 million, but 1H18 earnings was $3.38 million, 3.8% higher than $3.26 million a year ago.

2Q18 revenue increased by 8.1% to $9.41 million, mainly contributed by the Burn-In Services business segment and the Manufacturing and PCBA Services business segment, which brought gross profit for the quarter to $3.17 million, 16.2% higher y-o-y.

Imperium Crown in the red; posts 1H losses of $14.8 mil on lower revenue and higher operating expenses

SINGAPORE (Feb 9): Imperium Crown, the property investment and property development group, recorded a loss of $14.8 million in 1H18 compared to earnings of $0.65 million in 1H17.

Revenue dropped 66.8% to $0.83 million from $2.49 million last year, due to lower revenue contribution following the divestment of four of the group’s properties in Japan.

Property operating expenses was 0.7% higher at $0.93 million compared to $0.92 million a year ago, 8due to higher commission expenses incurred in connection with the divestment of the four Japanese properties.

Lian Beng posts 33.7% drop in 1H earnings to $12.2 mil on lower sales

SINGAPORE (Jan 12): Lian Beng Group, the civil engineering firm and property developer, reported 1H18 earnings dropped 33.7% to $12.2 million compared to $18.4 million in 1H17.

The group’s revenue for the first half ended November declined by 27% to $87.6 million from $120 million a year ago, mainly due to the decrease in revenue generated from the construction segment.

Similarly, cost of sales was 24.9% lower at $68.1 million from $90.7 million last year.

Hence, gross profit for 1H18 stood at $19.5 million, 33.5% lower than $29.4 million recorded in 1H17.

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