2Q19

Frasers Logistics Trust's 2Q DPU falls 2.8% to 1.76 cents on forex changes

SINGAPORE (April 27): The manager of Frasers Logistics & Industrial Trust (FLT) has reported a 2Q distribution per unit (DPU) of 1.76 cents, down 2.8% on-year from 1.81 cents in 2Q18 due to the softening of the AUD and EUR against the SGD.

In AUD terms, DPU grew 7.1% to 1.82 Australian cents in 2Q19 from 1.70 Australian cents on higher revenue and adjusted net property income (NPI) after taking into account acquisitions from FY18.

Why Maybank KE prefers Frasers Centrepoint Trust over SPH REIT

SINGAPORE (Apr 8): Maybank Kim Eng is reiterating its “hold” call on SPH REIT with an unchanged target price of $1.05 on expectations of limited retail sales growth.

Instead, the research house prefers Frasers Centrepoint Trust (FCT), rated “buy” with a $2.60 target price, for its suburban-mall footprint and a 6% three-year DPU CAGR.

This comes post the release of SPH REIT’s 2Q19 results last Friday, which came in line with Maybank’s estimates with 0.7% y-o-y growth in quarterly DPU to $1.41 cents.

Top Glove posts 2.9% lower 2Q earnings of $35.3 mil despite strong revenue growth

SINGAPORE (Mar 22): Top Glove has reported RM105.8 million ($35.16 million) in earnings for the 2Q ended Feb, representing a 2.9% y-o-y decline from its 2Q18 earnings of RM109 million due to higher finance costs and taxes, as well as lower associate contributions.

This brings the group’s earnings for 1H19 to a total of RM215.8 million, up 0.6% on-year from RM214.5 million in 1H18.

Lifebrandz 2Q losses widen 18% to $0.6 mil on higher sales activities, business expansion

SINGAPORE (Mar 14): Lifebrandz saw its losses in 2Q widen 18% to $0.6 million from $0.5 million a year ago, mainly due to an increase in total expenses which the group attributes to higher sales activities and business expansion.

Wing Tai announces 14% lower 2H earnings of $18.2 mil in absence of one-off gain

SINGAPORE (Feb 13): Regional property and lifestyle group Wing Tai Holdings has reported 1H19 earnings of $18.2 million, 14% down from $21.1 million a year ago in the absence of a one-off gain on disposal of a subsidiary.

Nonetheless, the group’s latest set of 2Q19 earnings grew threefold y-o-y to $16.1 million from $5 million in the previous year.

Revenue for 2H19 grew 7% to $193.9 million from $181 million a year ago, largely due to an increase in property sales in Malaysia.

AusGroup reports 87.9% fall in 2Q earnings to A$0.5 mil on reduced operating activity

SINGAPORE (Feb 13): Construction and engineering company AusGroup saw its earnings fall 87.9% y-o-y to A$0.49 million ($0.47 million) for the 2Q ended Dec 2018 as compared to earnings of A$4.8 million in 2Q18, due to reduced operating activity.

This brings the group’s earnings for 1H19 to A$1.8 million, down fourfold from A$7.2 million in the previous year.

Starhill Global REIT posts 3.4% lower 2Q DPU of 1.13 cents

SINGAPORE (Jan 29): The manager of Starhill Global REIT (SG REIT) has announced a distribution per unit (DPU) of 1.13 cents for 2Q19, 3.4% lower than its DPU of 1.17 cents a year ago due to lower net property income (NPI), higher interest costs and higher distributable income retained.

Gross revenue and NPI for the quarter fell 2.7% and 2.4% to $51 million and $39.5 million, respectively.

Lian Beng posts 21% growth in 2Q earnings to $7.7 mil

SINGAPORE (Jan 15): Lian Beng Group reported $7.7 mil in earnings for 2Q19, up 21.3% from a year ago due to higher margins.

Revenue came in 15.3% lower at $79.9 million compared to $94.4 million in 2Q18, as lower sales contribution from the Property Development segment offset higher sales from the Construction and Investment Holding segments.

Cost of sales fell 21% to $63.5 million over the quarter, which the group says in line with the lower revenue.

Stamford Tyres 2Q earnings shrink to $19,000 on higher expenses

SINGAPORE (Dec 6): Stamford Tyres announced earnings of $19,000 for 2Q19, down 99% from $1.6 million in 2Q17 due to higher total expenditure and lower share of results of joint ventures.

This comes even as revenue for the quarter grew 7.9% y-o-y to $63.7 million from $59 million previously, on the back of improved sales in Stamford’s Southeast Asian markets.

Gross profit margin, however, fell to 21% in 2Q from 26.1% a year ago due to higher cost of sales in tyres as well as higher costs of wheel production.

SIA Engineering reports 1.6% lower 2Q earnings of $38 mil on revenue decline

SINGAPORE (Nov 8): SIA Engineering Company (SIA EC) posted earnings of $38 million for 2Q19, 1.6% lower than $38.6 million in 2Q18 due to lower sales.

Revenue for 2Q fell 8.5% to $251.3 million on the back of lower airframe and fleet management revenue contributions.

Expenditure fell 5.7% on-year to $240 million compared to $254.6 million previously as a result of lower material and subcontract costs.

In all, operating profit for the quarter was down by nearly half at $11.3 million compared to $20.1 million for 2Q18.

Be informed of the stories that matter