FY17 earnings

Sincap swings back to profitability in FY17 on higher revenue, one-off gain on disposal

SINGAPORE (Mar 1): Sincap Group reported earnings of RMB 41.1 million ($8.6 million) for the FY17 ended December, compared to losses of RMB 6.8 million a year ago.

This was mainly due to higher revenue from continuing operations, as well as a one-off gain on disposal of the China subsidiaries, the Beijing Raffles Group, in FY17.

Revenue from continuing operations jumped 40% to RMB 306.7 million in FY17, from RMB 219.2 million a year ago.

Japfa posts 81% drop in FY17 earnings to $30 mil on higher costs

SINGAPORE (Mar 1): Japfa reported a 81% drop in FY17 earnings to US$22.6 million ($29.9 million) from US$118.8 million in FY16.

Revenue was 5% higher at US$3.19 billion, 5% higher than US$3.03 billion recorded in the previous year, due to sales volume increases in the group’s operations in the Animal Protein Indonesia, Dairy and Consumer Food segments. This was offset by the decrease in the revenue in the Animal Protein Other segment because of the low swine price environment in Vietnam.

Hotel Grand Central's FY17 earnings fall 27% to $38.6 mil on absence of one-off gain on disposal

SINGAPORE (Mar 1): Hotel Grand Central saw its earnings fall 27% to $38.6 million for the FY17 ended December, from $52.9 million a year ago.

This was mainly due to the absence of a one-off gain of $28.4 million on the disposal of Hotel Grand Chancellor, Surfers Paradise in 3Q16.

Total revenue rose 8% to $163.0 million in FY17, from $151.4 million a year ago.

Yanlord Land posts 23% drop in 4Q earnings to $248.9 mil on lower contribution from JV and associates

SINGAPORE (Mar 1): Yanlord Land Group announced fourth quarter earnings dropped 23% to RMB 1.19 billion ($248.9 million) in 4Q17 from RMB 1.55 billion in 4Q16.

This brings full-year earnings to RMB 3.22 billion in FY17, 19% higher than RMB 2.70 billion in FY16.

Revenue for the quarter was 14% higher at RMB 11.3 billion from RMB 9.90 billion a year ago, as a result of the increase in average selling price (ASP) per sqm, but was partially offset the decrease in gross floor area (GFA) delivered to the customers.

Jardine C&C posts 16% rise in FY17 earnings to US$811.2 mil

SINGAPORE (Mar 1): Jardine Cycle & Carriage saw its earnings grow 16% to US$811.2 million ($1.1 billion) for the FY17 ended December on the back of improved performance from Astra, compared to earnings of US$701.7 million a year ago.

Total group revenue rose 12% to US$17.7 billion in FY17, from US$15.8 billion a year ago.

Earnings per share (EPS) climbed to US$2.05 in FY17, from US$1.78 a year ago.

Astra reported a net profit equivalent to US$1.4 billion under Indonesian accounting standards, 25% higher in its local currency.

Geo Energy posts 77% drop in 4Q earnings to $4.6 mil on interest expenses

SINGAPORE (Mar 1): Geo Energy Resources reported a 77% decline in 4Q17 earnings to US$3.44 million ($4.55 million) in 4Q17 from US$14.7 million in 4Q16.

This translates to FY17 earnings of US$36.7 million, 65% higher than US$22.2 million in FY16.

Revenue for the quarter increased by 1% to US$92.8 million from US$91.9 million a year ago, attributed to less 4,200 gross as received (GAR) coal from the Sungai Danau Jaya (SDJ) coal mine due to temporary limitations of coal holding area at the jetty.

Jadason downgraded by RHB on shortage of workers and parts

SINGAPORE (Mar 1): RHB is downgrading its recommendation on Jadason Enterprises to “neutral” from “buy” previously with a target price of 8 cents.

This came on the back of the group yesterday announcing that its FY17 earnings were up by 54% to $2.82 million from $1.83 million in FY16.

Revenue was 10% higher y-o-y at $63.1 million, but cost of sales increased 16% y-o-y to $51.1 million, bringing gross profit to $12.0 million, 7% lower than $12.9 million a year ago.

4 out of 4 research houses have Venture at 'buy' on an even brighter outlook

SINGAPORE (Mar 1): Venture Corporation posted recorded FY17 earnings yesterday of $372.8 million, double that of $180.7 million in FY16.

This came on the back of a record revenue of $4 billion, 39.3% higher than $2.9 billion in FY16.

The group has proposed a final dividend of 60 cents per share, 20% higher than last year.

See: Venture celebrates record FY17 earnings of $373 mil as revenue hits $4 bil

KrisEnergy narrows FY17 losses to US$139 mil on lower expenses

SINGAPORE (Mar 1): Upstream oil and gas company KrisEnergy posted full-year losses of US$139.2 million ($183.7 million) for the FY17 ended December on the back of lower expenses, improving from losses of US$235.3 million a year ago.

A 59.0% increase in the annual average realised crude oil price to US$49.26 per barrel bolstered revenue to US$140.7 million in FY17, relatively flat to year-ago levels of US$142.8 million.

The group’s oil and gas production saw a 21.0% decrease in to 12,745 barrels of oil equivalent per day (boepd).

Yangzijiang Shipbuilding posts 12.1% rise in 4Q earnings to $141.7 mil

SINGAPORE (Feb 28): Yangzijiang Shipbuilding reported 4Q17 earnings increased by 12% to RMB 677.9 million ($141.7 million) from RMB 607.8 million in 4Q16.

This brings FY17 earnings to RMB 2.93 billion, 67% higher than RMB 1.75 billion in FY16.

Revenue for the quarter was 15% higher at RMB 6.35 billion compared to RMB 5.51 billion a year ago, mainly due to progressive construction of more larger size containerships.

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