SingPost reports 40.4% lower 1Q earnings on fair value loss & higher taxes; declares 0.5 cent dividend

SINGAPORE (Aug 3): Singapore Post (SingPost) reported 1Q FY18/19 earnings of $18.7 million, down 40.4% from $31.4 million a year ago due to an exceptional fair value loss on warrants from an associated company as well as higher tax expenses.

Revenue for the quarter grew 3.3% to $372.3 million from the restated 1Q FY17/18 revenue of $360.5 million, driven mainly by a 67.1 % increase in operating profit under the Property segment due to rental income from the SingPost Centre retail mall as committed occupancy improved.  

Mapletree Logistics Trust posts 3.7% rise in 1Q DPU to 1.957 cents; recommences distribution reinvestment plan

SINGAPORE (July 23): The manager of Mapletree Logistics Trust (MLT) has announced an available distribution per unit (DPU) of 1.957 cents for the 1Q19 ended June, up 3.7% from its 1Q18 DPU of 1.887 cents a year ago.

Gross revenue for 1Q19 grew 10.1% on-year to $105.4 million from $95.8 million previously, maily due to higher contributions from existing properties and acquisitions in Hong Kong completed in FY18.

Pacific Radiance's 1Q losses cut to $17.5 mil as restructuring continues

SINGAPORE (June 29): Vessel charterer Pacific Radiance announced a loss of US$12.8 million ($17.5 million) for the first quarter ended March, narrowing 13% from its loss of US$14.8 million a year ago on lower costs.

Revenue for 1Q18 fell 16% to US$11.8 million from US$14 million previously, mainly due to lower contributions from the group’s subsea business on the back of lower vessel charter rates, offset in part by improved performance from its offshore support services business.

Cost of sales fell 28% to US$15.1 million from US$21 million a year ago.

Singapore Kitchen Equipment sinks deeper into the red with 1Q18 loss of $0.9 mil

SINGAPORE (June 22): Singapore Kitchen Equipment (SKE) reported losses doubled to $0.9 million for 1Q18 from $0.45 million a year ago on higher costs and expenses. 

Revenue for the quarter grew 43.6% to $6.9 million from $4.8 million in 1Q17 mainly due to higher sales generated from fabrication and distribution for tenders, and higher maintenance and service income.

IHH Healthcare's 1Q earnings fall 88% to $19.2 mil on start-up costs and forex losses

SINGAPORE (May 25): IHH Healthcare saw its 1Q18 earnings ended March fall 88% to RM57.2 million ($19.2 million) from RM470 million in 1Q17 earnings due to start-up costs and the recognition of forex losses.  

Revenue for the quarter was up 6% to RM2.9 billion from RM2.7 billion in the previous year on the back of sustained organic growth from existing operations as well as the continuous ramp-up of the two new hospitals, namely Gleneagles Hong Kong Hospital and Acibadem Altunizade Hospital, which opened in 2017.

Sri Trang Agro-Industry 1Q earnings surge to $35 million despite lower revenue

SINGAPORE (May 14): Sri Trang Agro-Industry reported a 109% surge in 1Q18 earnings to THB831.8 million ($34.8 million) from earnings of THB7.6 million a year ago on the back of higher operating profit and gross profit margins.

Group revenue fell 38% on-year to THB17.7 billion due to a decline in both natural rubber (NR) average selling prices (ASPs) and sales volume, due to a drop in export volume following the implementation of an export quota and in line with the NR prices on the global markets, respectively.

Tiong Seng's 1Q earnings up fivefold to $4.9 mil on improved margins

SINGAPORE (May 14): Tiong Seng Holdings reported 1Q18 earnings of $4.9 million, up nearly fivefold from its earnings of $1 million a year ago due to improved profit margins. 

The group posted a 15.3% decline in revenue to $140.8 for the quarter as compared to $166.2 million in the previous year, due to lower revenue both its core construction segment and secondary property segment, where revenue fell 12.3% and 45.2% to $131.8 million and $8.4 million, respectively.

Amara posts 32% 1Q earnings rise to $2.1 mil on higher revenue & forex gain

SINGAPORE (May 14): Amara Holdings reported earnings of $2.1 million for the 1Q ended March, up 32% from its restated earnings of $1.6 million a year ago due to higher revenue and other income.  

Revenue for the quarter grew by 13% to $22.6 million compared to restated 1Q17 revenue of $20 million a year ago, lifted by higher contributions from its Hotel Investment and Management segment.

Other income grew more than fourfold to $1.4 million from $0.4 million on the back of a $1.2 million foreign exchange gain.

Spackman's 1Q earnings plunge 93% to $0.5 mil on absence of profit contribution from movies

SINGAPORE (May 14): Spackman Entertainment Group posted 93% lower 1Q18 earnings of US$0.4 million ($0.5 million) compared to earnings of US$5.4 million a year ago on higher costs and expenses as well as lower other income.

Revenue for the quarter rose 31% to US$10.5 million from US$8 million a year ago, due mainly to higher revenue from the distribution of films and others on the recognition of the sales and distributions rights/video on demand (VOD) sales for The Outlaws by the group’s 51%-owned subsidiary, Novus Mediacorp.

Dasin Retail Trust declares 23% higher 1Q DPU of 1.83 cents

SINGAPORE (May 11): The trustee-manager of Dasin Retail Trust (DRT) has announced a 1Q18 distribution per unit (DPU) of 1.83 cents, up 23% from its 1Q17 DPU of 1.49 cents on the near-doubling of revenue, and after factoring in a waiver.

To recap, two major unitholders of DRT have agreed to not receive distributions for some of the REIT’s units they own, which means higher distributions for other unitholders.

Without the distribution waiver, 1Q DPU would have risen 43% to 0.96 cent from 0.67 cent a year ago.

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