FY18

GEAR posts 37.5% lower FY18 earnings of $53 mil despite record revenue
SINGAPORE (Mar 1): Golden Energy and Resources (GEAR) has announced FY18 earnings of US$39.3 million ($53.2 million), down 37.5% from its FY17 earnings of US$67 million due to higher mining overheads, fuel costs, freight & stockpile expenses, as well as higher stripping ratios. Revenue nonetheless grew 37.3% to a record US$1 billion for FY18, compared to US$763.8 million in the previous ...
OCBC cuts FY19 estimates for Yanlord, cautious on high gearing & volatile market conditions
SINGAPORE (Mar 1): OCBC Investment Research is maintaining its “buy” call on Yanlord Land Group with a lower fair value of $1.75 compared to $2.04 previously, after rolling forward valuations and applying an unchanged P/E target peg of 5 times to core FY19 EPS forecasts. The move comes as Yanlord missed OCBC’s expectations with a subdued set of 4Q18 results, where revenue slumped 79.4% ...
More earnings drivers required for China Aviation Oil to be a 'buy', says RHB
SINGAPORE (Mar 1): RHB Research is remaining “neutral” on China Aviation Oil (CAO) after the group reported FY18 earnings of US$94 million ($127 million), up 10% y-o-y and coming in slightly ahead of RHB and consensus estimates on better-than-expected gross profit margin. The research house has raised its target price on the stock to $1.50 from $1.32 previously as it rolls over its blended ...
Hyphens Pharma 4Q earnings grow 31.9% to $0.8 mil in absence of one-off IPO expenses
SINGAPORE (Mar 1): Hyphens Pharma International has announced earnings of $0.8 million for the 4Q ended Dec 2018, rising 31.9% from $0.6 million in 4Q17 in the absence of one-off IPO expenses incurred from the year before.   Excluding the impact of these one-off expenses, the group’s earnings would have increased 33% to $1.2 million from $0.9 million a year ago. This brings the ...
Straco Corp posts 0.4% lower 4Q earnings of $6 mil; announces special & final dividend
SINGAPORE (Feb 28): Straco Corporation saw a marginal 0.4% y-o-y dip in 4Q18 earnings to $6.04 million from $6.07 million a year ago, as lower revenue for the quarter was offset by lower expenses compared to the corresponding period. For the FY18 ended Dec 2018, the group reported 12.4% lower earnings of $41.8 million compared to $47.7 million for FY17. Revenue for the latest quarter fell ...
Yongnam FY18 loss widens to $51 mil on revenue decline, provisions & overheads
SINGAPORE (Feb 28): Yongnam Holdings, the engineering and construction services provider, reported FY18 loss widened to $51 million from $17 million a year ago due to lower revenue across all segments. In the group’s results announcement on Thursday, Yongnam notes that its bottomline was further impacted by provisions made in anticipation of lower negotiated variation orders for two ...
Straits Trading sees near-trebling of 4Q earnings to $14.1 mil despite lower revenue
SINGAPORE (Feb 28): Straits Trading Company saw its 4Q18 earnings nearly treble to $14.1 million from $5.2 million a year ago, mainly due to higher other items of income as well as reduced other items of expense. This brings the group’s earnings for FY18 to $71.7 million, which is 54.5% higher than the $46.4 million reported in the previous year. Revenue for the latest quarter dipped 1.7% ...
Bumitama Agri on track for a better performance in FY19, say analysts
SINGAPORE (Feb 28): Maybank Kim Eng and RHB Research are maintaining their “buy” and “neutral” ratings on Bumitama Agri with higher target prices of 97 cents and 67 cents, respectively. This comes after the oil palm plantation company concluded FY18 with earnings of $125 million, down 9% y-o-y as its 4Q and full-year performance was impacted by weaker agriculture commodity prices, ...
CITIC Envirotech posts 41.6% higher FY18 earnings of $113.2 mil on revenue growth
SINGAPORE (Feb 28): CITIC Envirotech Limited (CEL) has concluded FY18 with earnings of $113.2 million, rising 41.6% from its FY17 earnings of $79.9 million on higher revenue. Over FY18, revenue surged 46.9% to $994.5 million in FY18 from the restated $677.2 million in the previous year. The topline growth was mainly due to an increase in engineering revenue, which grew 39.6% to $511.5 ...
IndoAgri sinks into the red with $20 mil loss for 4Q on weak commodity prices
SINGAPORE (Feb 28): Indofood Agri Resources (IndoAgri) has sunk into a loss of Rp 211.7 billion ($20 million) for 4Q18 compared to Rp 76.9 billion in profit a year ago, due to significantly lower profit in the Plantation Division arising from weak commodity prices. As such, the group has reported Rp 211.8 billion in overall losses for FY18, as opposed to earnings of Rp 447.3 million for the ...