FY18

Low Keng Huat posts 34% lower 4Q earnings of $3.5 mil on revenue decline

SINGAPORE (April 2): Low Keng Huat has announced 4Q18 earnings of $3.5 million, declining 34% y-o-y from $5.3 million on the back of lower revenue.   

This brings the property developer’s FY18 earnings of $15.4 million, down 13% from $17.8 million a year ago due to lower overall profit from its development and investment segments.

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 year.

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.

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 valuation to 2019, which implies 9% upside and 4% FY19F yield.

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 group’s full-year earnings to $5.4 million, down 11.1% from its earnings of $6.1 million a year ago.

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.

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 structural steelworks projects, and lower margins for Thomson MRT projects.

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% to $104.7 million from $106.5 million in 4Q17 due to a 7.8% decline in tin mining and smelting revenue to $94.9 million

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, especially in the latest quarter.

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 million, as well as the doubling of membrane system sales to $255.1 million from $127 million in the previous year.

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