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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, ...
Ace Achieve Infocom reports 75% lower FY18 earnings of $0.9 mil on lower revenue
SINGAPORE (Dec 6): Ace Achieve Infocom reported earnings of RMB4.5 million ($0.9 million) for FY18, down 75% from its FY17 earnings of RMB17.9 million due to lower revenue and margins. Revenue for the full year fell 33.2% to RMB184.8 million from RMB276.5 million previously on the back of a slowdown in the 4G business investment environment coupled with market competition. According to the ...
mm2 Asia still a decent 'buy' even as growth hits a snag, says DBS
SINGAPORE (Nov 16): DBS Vickers Securities is maintaining its “buy” call on mm2 Asia with a lower target price of 50 cents compared to 62 cents previously, after the group’s 1H19 results came in below expectations. To recap, mm2 Asia reported revenue of $113.9 million for 1H19 after 2Q net earnings were hit by higher interest costs, including a one-off charge in relation to its purchase ...
United Engineers reports 16% lower 3Q earnings of $7.7 mil on revenue decline
SINGAPORE (Nov 14): United Engineers reported 16% lower 3Q18 earnings of $7.7 million, down from $9.1 million a year ago on lower revenue. Revenue fell 31% y-o-y to $81.5 million from $118.2 million in 3Q17, mainly due to lower revenue from the property development segment as well as in the absence of revenue contribution from the group’s liquefied petroleum gas (LPG) business after it was ...
Grand Banks Yachts posts 10.1% dip in 1Q earnings on lower revenue, higher expenses
SINGAPORE (Nov 14): Grand Banks Yachts’ net profit for 1Q19 dipped 10.1% y-o-y to $1.1 million from the group’s restated earnings of $1.3 million on the back of lower revenue and higher operating expenses. For the 1Q ended Sept, the luxury boat maker reported revenue of $21.6 million, down 10.7% from restated 1Q18 revenue of $24.2 million due to fewer stock boats and trade-in boat sales ...
UOL 3Q earnings down more than sixfold to $93 mil post UIC consolidation
SINGAPORE (Nov 13): UOL Group announced $92.8 million in earnings for the 3Q ended Sept, down more than sixfold from its restated 3Q17 earnings of $609.2 million in the absence of a one-off gain from the consolidation of United Industrial Corporation (UIC) group in 2017.   See: UIC posts 36% fall in 3Q earnings to $59.3 mil on lower sales Revenue for the quarter fell 3% to $523.8 ...
Sasseur REIT's sales growth momentum will lead to even stronger 4Q: Maybank KE
SINGAPORE (Nov 13): Maybank Kim Eng is maintaining “buy” on Sasseur REIT with an unchanged 90-cent price target after the REIT manager on Monday declared higher-than-forecast DPU of 1.542 cents, outpacing the research house’s 3-40% growth forecasts for its four outlet malls. Looking ahead, the research house expects the REIT’s strong growth sales momentum in 3Q18 to pick up into its ...
Clearbridge Health posts smaller 3Q loss of $2.5 mil
SINGAPORE (Nov 12): Clearbridge Health recorded a loss of $2.5 million for the 3Q ended Sept, 21.4% smaller than its net loss of $3.2 million a year ago on higher revenue derived from its newly-commenced businesses. Revenue for the quarter was $2.05 million compared to just $0.1 million in 3Q17, upon recording contributions from Clearbridge’s medical clinics/centres in Singapore and Hong ...
IREIT Global's 3Q DPU unchanged at 1.42 cents after hedging; says no more lease expiries in 2019
SINGAPORE (Nov 12): The manager of IREIT Global has announced a 3Q18 distribution per unit (DPU) of 1.42 cents, unchanged from a year ago in SGD terms after taking into account forward foreign currency exchange contracts entered into to hedge against currency risks for distribution to unitholders.   In terms of the euro currency alone, DPU for 3Q was 0.88 euros, down 4.2% from 0.92 euros ...
China Everbright registers 17% higher 3Q earnings of $29 mil on revenue growth
SINGAPORE (Nov 12): China Everbright announced HKD164.3 million ($29 million) in earnings for the 3Q ended Sept, up 17% from the group’s 3Q17 earnings of HKD140.9 million a year ago due to higher revenue. Revenue for the quarter grew 39% to HKD1 billion from HKD746.1 million a year ago, mainly attributable to higher construction and operation revenue contributions. The growth in ...