Duty Free posts 20.7% fall in 1Q earnings to $2.4 mil despite higher revenue

SINGAPORE (July 11): Duty Free International (DFI) saw its earnings fall 20.7% to RM7.2 million ($2.4 million) for the 1Q20 ended May, compared to earnings of RM9.0 million in the corresponding quarter last year.

Earnings per share (EPS) fell to 0.60 sen for 1Q20, compared to 0.74 sen in 1Q19.

The decline was led by a surge in losses from change in inventories, which comprises the difference in the value of inventories at the beginning and at the end of the financial period reported on.

IHH Healthcare to see an exciting 2019 with increasingly palatable valuations: UOB

SINGAPORE (May 31): UOB Kay Hian is maintaining “buy” on IHH Healthcare with a target price of RM6.30 ($2.07), which implies 32.8 times 2020F P/E – well below its historical five-year 12 month forward P/E of 57 times based on the stock’s performance on the KLSE.

KSH Holdings' FY19 earnings down 75% after changes to accounting treatment

SINGAPORE (May 31): KSH Holdings has announced FY19 earnings of $7.7 million for FY19, down 74.8% from a restated $30.4 million in FY18 after changes to accounting treatment which are in line with International Financial Reporting Standards (IFRS).

mm2 Asia's FY19 earnings fall 14.7% to $19.1 mil on net margin decline

SINGAPORE (May 31): mm2 Asia reported $6.2 million in earnings for the 4Q ended March, down 7.5% from $6.7 million a year ago due to lower revenue and expansion costs.

This brings the group’s full year earnings to a total of $19.1 million, representing a 14.7% decline from $22.4 million in FY18.

IHH Healthcare posts 56% higher 1Q earnings of $29.4 mil on stronger operational performance

SINGAPORE (May 30): IHH Healthcare reported 1Q earnings of RM89.5 million ($29.4 million), 56% higher from RM57.2 million a year ago on the back of stronger operational performance.

Revenue for the quarter grew 28% to RM3.6 billion from RM2.9 billion previously.

The group attributes this to sustained organic growth at existing operations and the sustained ramp-up of Gleneagles Hong Kong Hospital and Acibadem Altunizade Hospital, which both opened in March 2017.

Ley Choon sinks into 4Q, FY19 losses on lower margins

SINGAPORE (May 30): Ley Choon Group reported a loss of $5.2 million for the 4Q ended March, sinking into the red from its 4Q18 profit of $0.3 million due to lower margins.  

This brings the group to a full year loss of $9.6 million as opposed to FY18 earnings of $1.5 million a year ago.

Revenue for 4Q19 grew 2.8% y-o-y to $27.9 million from $27.1 million due to higher contributions from small diameter pipe projections, as well as the sale of construction materials.

Valuetronics posts 2.8% lower FY19 earnings; seeks to mitigate trade war risks with Vietnam expansion

SINGAPORE (May 29): Valuetronics Holdings, the provider of electronics manufacturing services (EMS), announced a 2.8% y-o-y decline in FY19 earnings to HK$199.5 million ($35.1 million) from HK$204.7 million on lower revenue.

A final dividend of 15 HK cents, along with a special dividend of 5 HK cents, has been recommended for FY19.

Including the HK 5-cent interim dividend paid out to shareholders in Dec 2018, this year’s interim, special and final dividends amount to 25 HK cents per share or 54.4% of FY19 net profit attributable to shareholders.

Memories Group returns to profitability in FY19 after booking one-off 4Q gain

SINGAPORE (May 29): Memories Group posted US$6.1 million ($8.4 million) in 4Q19 earnings, up y-o-y from its earnings of US$1 million due to a one-off US$8 million gain from its acquisition of SM Assets Holdings.

The gain was derived from a lower fair value of the purchase consideration paid for the acquisition compared to the fair value of net identifiable assets of SM Assets acquired by Memories.

The 4Q results bring the group’s full-year earnings to US$2.3 million for the FY19 ended March, reversing from a loss of US$6.2 million in FY18.

Hour Glass posts 41% jump in FY19 earnings to $70.4 mil; recommends 3.00 cents per share dividend

SINGAPORE (May 28): Luxury watch retailer The Hour Glass saw its full-year earnings climb 41% to $70.4 million for the FY19 ended March, from $49.8 million a year ago.

Earnings per share rose to 9.99 cents for FY19, compared with 7.07 cents in FY18.

FY19 revenue grew 4% to $720.9 million, from $691.6 million a year ago.

The increase was largely due to positive consumer sentiment and steady growth across its regional retail network.

Gross margins improved by 2.8 percentage points to 27.0% in FY19

Metro's 4Q earnings surge to $51 mil on fair value gains & share of JVs

SINGAPORE (May 28): Metro Holdings has announced 4Q19 earnings of $51 million compared to $1 million a year ago, due to higher revenue and fair value gains, as well as a surge in share of results in joint ventures (JVs).

The group’s earnings for the full year nonetheless came in 40.2% lower at $95.3 million compared to $159.2 million in FY18 on the back of comparatively lower share of results of associates.

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