2Q17

KSH Holdings 2Q earnings halve to $4.1 mil on lower revenue

SINGAPORE (Nov 10): Construction and property group KSH Holdings earnings of $4.1 million for 2Q18, down nearly half from its $8 million in earnings a year ago on lower revenue.

Revenue for the quarter fell 64.1% to $24.5 million from $68.2 million in the corresponding period a year ago, mainly due to a decrease in revenue from the group’s construction business on the back of delays in the handing over of sites from customers for two projects, which in turn affected the progress in the certification of work done.

Neo Group sinks into the red in 2Q on absence of one-off gain

SINGAPORE (Nov 10): Neo Group reported a loss of $0.5 million for 2Q17/18 compared to earnings of $3 million a year ago in 2Q16/17.

The catering group says this was largely due to the absence of a $1.82 million one-off gain on the disposal of assets classified as ‘held for sale’ in 2Q16/17.

SATS posts 16.3% rise in 2Q earnings to $72.2 mil on higher overseas contributions

SINGAPORE (Nov 9): Gateway solutions provider SATS has announced $72.2 million in earnings for 2QFY17-18, up 16.3% from $62.1 million in the same period a year ago on higher overseas contributions and a one-off gain.

Revenue for the quarter fell 0.8% to $434.8 million from $434.5 million previously, mainly due to a 3.1% decrease in contributions from the Food Solutions segment which was partially mitigated by a 2.3% growth in revenue from Gateway Services to $189.7 million.

SingHaiyi sees 2Q earnings rise 59% to $6.2 mil on sales recognition from The Vales

SINGAPORE (Nov 7): Property group SingHaiyi saw 2Q18 earnings ended Sept rise 58.8% to $6.2 million from $3.9 million a year ago on higher revenue.

The group recorded total revenue of $106.7 million for 2Q18 compared to just $13.3 million a year ago, arising mainly from the revenue recognised for the group’s completed executive condominium (EC) project, The Vales.

Rental income, however, fell 16.6% to $2.1 million from $2.5 million previously due to the ongoing asset enhancement initiative (AEI) program underwent by Tri-County Mall (TCM) in the US.

Buy S-REITs on dips as valuations remain stretched, advises OCBC

SINGAPORE (Aug 22): OCBC Investment Research is maintaining “neutral” on Singapore REITs (S-REITs) after all 24 REITs under its coverage reported 2Q17 results that came in line with its expectations, with overall distribution per unit (DPU) growth coming in flat.

Nordic Group posts 22% increase in 2Q earnings to $3.7 mil

SINGAPORE (Aug 22): Nordic Group saw earnings increase 22% to $3.72 million in 2Q17 from $3.06 million in 2Q16.

The group’s revenue increased by 10% to $24.0 million in 2Q17 from $21.8 million in 2Q16, mainly attributed to additional revenue source from Ensure Engineering to the group’s Maintenance Services business unit.

For the 1H17 ended June, earnings rose 22% to $6.5 million as revenue grew 6% to $44 million.

On April 28, the group acquired 100% of Ensure for approximately $17.3 million.

3 strategic stock picks to usher in the new economy

SINGAPORE (Aug 21): CIMB has highlighted  CapitaLand, Wilmar International and Sembcorp Industries (SCI) among its top “add” picks while noting that Singapore’s corporates are now increasingly being disrupted by asset-light, lower-cost new economy disruptors.   

In a report issued last Wednesday, analyst Lim Siew Khee says while were more misses than beats in 2Q17 season, she nonetheless sees a net +2% q-o-q earnings upgrade to CIMB’s forecasts for FY17 and FY18 due to the results outperformers.

17 hot stock picks following a season of strong 2Q gains

SINGAPORE (Aug 17): UOB Kay Hian has upgraded its FTSE Straits Times Index (FSSTI) target forecasts up to 3,410 from 3,250 previously on “pockets of solid outperformances”  in the 2Q17 financial reporting season, which concluded this week.  

In a Thursday report, analyst Andrew Chow recaps on what he calls an encouraging 2Q17 reporting season, which saw 28% of companies reporting results that exceeded UOB’s expectations versus 24% in the previous quarter – with the beats concentrated on banks and technology/exporters.

After a strong quarter, Midas is set to go full speed ahead in 2H

SINGAPORE (Aug 16): DBS Vickers Securities is maintaining its “buy” recommendation on Midas Holdings, the manufacturer of aluminium alloy extrusion products for railways in China, with an unchanged target price of 36 cents.

See: Midas reports near trebling of 2Q earnings to $11.3 mil

YuuZoo changes revenue recognition policy; reports 17% lower 2Q revenue

SINGAPORE (Aug 16): YuuZoo Corporation posted 2Q17 net profit of $8.4 million, compared to a net loss of $1.4 million in 2Q16 a year ago.

However, the company’s 2Q17 revenue ended at $17.7 million, 17% lower than the $21.3 million reported a year ago.

The decrease was mainly due to change in adoption of a more prudent means of revenue recognition as well as lower payment revenue.

See: Scrutinising YuuZoo’s deals

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