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Banyan Tree's 1Q earnings decline fourfold on lower revenue, absence of one-off gains
SINGAPORE (May 16): Banyan Tree Holdings reported a 74% decline in 1Q19 earnings to $5.2 million from $20.2 million on the back of lower revenue, as well as the absence of one-off gains from the dilution of the group’s interest in its China entities. Revenue fell 17% to $81.2 million from $98.2 million in 1Q18, mainly attributable to lower contributions from the Hotel Investments ...
iREIT Global reports 2.7% lower 1Q DPU of 1.42 cents on higher expenses, forex changes
SINGAPORE (May 16): The manager of iREIT Global has declared a 1Q19 distribution per unit (DPU) 1.42 cents, declining 2.7% from 1.46 cents a year ago due to higher property operating expenses and a weaker SGD/EUR exchange rate. This represents an annualised distribution yield of 7.6% based on the REIT’s closing price of 74.5 cents on the last trading day of 1Q.   In euro terms, DPU ...
Golden Energy and Resources posts 73% drop in 1Q earnings to US$7.2 mil
SINGAPORE (May 15): Golden Energy and Resources (GEAR) saw its earnings fall 73.1% to US$7.2 million ($9.9 million) for the 1Q19 ended March, from US$26.8 million a year ago. Earnings per share (EPS) dropped to 0.31 US cents in 1Q19, from 1.14 US cents in 1Q18. The decline comes despite a modest 1.2% increase in revenue to US$276.2 million for 1Q19, as coal production rose 52.9% to 7.1 ...
Uni-Asia posts 9% rise in 1Q earnings to US$3.5 mil on higher income
SINGAPORE (May 15): Uni-Asia Group, the alternative investment company and provider of management services to ships and properties, reports a 9% increase in earnings to US$3.5 million ($4.8 million) for the 1Q19 ended March, from US$3.2 million a year ago. Earnings per share (EPS) rose to 7.41 US cents for 1Q19, from 6.77 US cents for 1Q18. Total income for the group increased by 26% to ...
Tai Sin reports 23% lower 9M earnings of $7.3 mil on margin decline
SINGAPORE (May 15): Tai Sin Electric reported $7.3 million in earnings for the 9M ended March, a 23% decline from earnings of $9.5 million in 9M18 due to lower margins, primarily in the Cable & Wire (C&W) business segment. Revenue for the period grew 4.43% y-o-y to $247.7 million from $237.2 million on the back of higher revenue from the C&W and Test & Inspection segments due ...
CityDev's 1Q earnings more than double to $200 mil on higher margins & Manulife Centre divestment gain
SINGAPORE (May 15): City Developments (CDL) has announced earnings of $199.6 million for the 1Q ended March, rising 133.8% from restated 1Q18 earnings of $85.3 million on strong profit margins and the realisation of a pre-tax divestment gain. The bottomline growth came despite a 29.5% y-o-y decline in revenue to $746.2 million from $1.06 billion a year ago, in the absence of revenue ...
SingTel ends FY19 with 44% lower earnings of $3.1 bil; proposes 10.7 cents final dividend
SINGAPORE (May 15): Singapore Telecommunications (SingTel) posted $773 million in earnings for the 4Q19 ended March, down $7.7 million or 1% y-o-y compared to 4Q18 earnings of $769.6 million after factoring in exceptional gains from Airtel. The latest set of results brings the group’s full year earnings to $3.1 billion for FY19, representing a 44% decline from FY18 earnings of $5.5 billion ...
Straits Trading reports 78.1% 1Q earnings growth to $17.3 mil on higher share of associates
SINGAPORE (May 14): Straits Trading Company reported earnings $17.3 million for 1Q19, up 78.1% from $9.7 million in 1Q18 due to higher share of results of associates and joint ventures (JVs) as well as improved overall performance across all of its business segments. The latest set of results brings the group’s earnings per share (EPS) for the quarter to 4.2 cents as opposed to 2.4 cents in ...
PropNex posts 67.6% decline in 1Q earning to $2 mil on lower revenue
SINGAPORE (May 14): Real estate agency PropNex recorded a 67.6% drop in earnings to $2.0 million for the 1Q19 ended March, falling from $6.2 million in the corresponding quarter a year ago. Earnings per share (EPS) sank to 0.54 cents for 1Q19, some 73.1% lower than EPS of 2.01 cents in 1Q18. “The reduced number of new launches in the first two months of the year, compounded by the effects ...
Straco's 1Q earnings more than double to $8.5 mil on revenue recovery from Singapore Flyer
SINGAPORE (May 14): Straco Corporation, the developer and operator of tourism-related attractions including the Singapore Flyer, has posted earnings of $8.5 million for the 1Q ended March, more than doubling from its 1Q18 earnings of $3.5 million due to higher revenue. Revenue for the quarter grew 30.8% on-year to $24.6 million from $18.8 million a year ago with comparably higher revenue ...