3Q results

Top Glove posts 36.5% drop in 3Q earnings to $24.2 mil on higher expenses

SINGAPORE (June 18): Top Glove, the largest glove manufacturer in the world, recorded earnings of RM73.7 million ($24.2 million) for the 3Q19 ended May, some 36.5% lower than RM117.6 million a year ago.

Earnings per share (EPS) fell to 2.92 sen for 3Q19, compared to 4.64 sen for 3Q18.

The decline was mainly attributed to a 22% spike in the price of natural rubber latex price during the quarter, resulting in a mismatch between raw material cost and selling price.

Health Management International posts 15% drop in 3Q earnings to $4.4 mil on higher costs

SINGAPORE (May 13): Health Management International (HMI) announced that its 3Q19 earnings have dropped by 15% to RM13.4 million ($4.4 million), compared to RM15.9 million in 3Q18.

This brings 9M19 earnings to RM35.3 million, 22% lower than RM45.4 million in 9M18.

Turnover for the quarter increased by 8% to RM124.8 million from RM115.4 million a year ago.

Raffles Education posts 3Q losses narrowed by 84% to $0.6 mil

SINGAPORE (May 8): Raffles Education, the private education provider, reported 3Q19 losses narrowed to $0.6 million from losses of $4.0 million in 3Q18.

In 9M19, losses widened to $16.7 million from $11.3 million in 9M18 though.

Revenue for the quarter was 5% higher at $24.9 million from $23.8 million in the previous year.

During the period, the group recorded a loss of $0.2 million from share of results of associates compared to a gain of $1.8 million a year ago, mainly due to the divestment of property by Axiom Properties during the last financial year.

Analysts still upbeat on Starhill Global REIT despite mixed 3Q performance

SINGAPORE (Apr 29): Starhill Global REIT (SGREIT) posted 3Q19 DPU of 1.10 cents, 0.9% higher y-o-y.

But gross revenue was 0.9% lower y-o-y at $51.3 million, bringing net property income (NPI) to $39.6 million, 1.8% lower than $40.3 million last year.

See: Starhill Global REIT declares 0.9% increase in 3Q DPU to 1.10 cents

Singapore Exchange 3Q earnings dip 1% to $99.7 mil

SINGAPORE (Apr 25): Singapore Exchange (SGX) reported 3Q19 earnings of $99.7 million, 1% lower than $100.5 million in 3Q18.

However, on a year-to-date basis, 9M19 earnings came in at $287.2 million, 3% higher than $279.5 million in 9M18.

During the quarter, operating revenue increased by 3% to $228.8 million compared to $222.2 million in the previous year, mainly due to higher contribution from the exchange’s derivatives and market data & connectivity segments.

SLB sinks into the red with 3Q losses of $3.5 mil on lower revenue

SINGAPORE (Apr 12): SLB Development, the development spin-off from Lian Beng Group, today announced that it has made a loss of $3.5 million in 3Q19, compared to earnings of $1.9 million in 3Q18.

This was mainly due to lower revenue and share of losses from joint ventures and associates.

For the 9M19 period, the group recorded a loss of $6.5 million, compared to earnings of $14.5 million in 9M18.

TEE International posts 89.3% rise in 3Q earnings but 9M still mired in losses

SINGAPORE (Apr 11): TEE International reported 3Q19 earnings rose by 89.3% to $708,000 million, compared to $374,000 in 3Q18.

The stronger bottomline also narrows its 9M losses to $5.03 million from $5.76 million a year ago.

Revenue for the quarter more than doubled to $134.1 million from $64.7 million last year, due mainly to the higher contribution of progressive revenue from on-going engineering projects and inclusion of revenue from the waste and recycling management subsidiaries.

Stamford Tyres posts 98% drop in 3Q earnings to $20,000

SINGAPORE (Mar 11): Stamford Tyres announced 3Q19 earnings declined by 97.90% to $20,000, compared to $953,000 in 3Q18.

This brings 9M19 earnings to $151,000, 96.64% lower than $4.50 million in 9M18.

Total revenue for the quarter was 14.21% lower at $54.1 million from $63.1 million a year ago.

The decline in turnover came as the group saw lower sales in South-east Asia and North Asia, while its joint ventures recorded lower sales in Hong Kong and India. Its India joint venture also posted a net loss for 9M19.

Valuetronics' smart lighting business looks dim in near term

SINGAPORE (Feb 19): Valuetronics, the provider of integrated electronics manufacturing services (EMS), reported 3Q19 earnings rose 2.6% to HK$59.7 million ($10.3 million) from a year ago.

This comes on the back of a 7.5% decline in revenue to HK$729.6 million.

In 9M19, earnings came in 2.6% lower y-o-y at HK$153.7 million.

See: Valuetronics posts 3Q earnings up by 2.6% to $10.3 mil despite dip in revenue

Singapore Air kept at 'buy' by analysts on expected earnings improvement

SINGAPORE (Feb 18): Despite a 27% drop in its 3Q19 earnings to $284.1 million, Singapore Airlines (SIA) is a still a “buy” in analysts’ books.

Revenue for the quarter was 6.5% higher y-o-y at $4.34 billion though, mainly on growth in passenger demand with passenger yields being flat.

For 9M19, group earnings came in at $480.1 million, 53% lower than its 9M18 earnings of $1.02 billion.

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