Mainboard-listed industrial fishing company China Fishery Group says net profit rose 7.9% y-o-y to US$19.7 million ($25 million) for the first quarter of the financial year ending 28 September 2011 (1QFY2011).
Group revenue rose 13.4% to US$115.1 million from US$101.4 million in the same period last year.
Mainboard-listed BRC Asia, one of the largest prefabricated steel reinforcement providers in Singapore, says net profit for first quarter ended 31 December 2010 (1Q2011) fell 52% y-o-y to $3.3 million due to rising steel costs and intense market competition which halved gross profit margin to 9.2% in 1Q2011 from 18.8% in 1Q2010. Revenue for first quarter ended 15% higher y-o-y to $72.4 million due to higher sales volume amidst buoyant construction activities in Singapore.
Jade Technologies Holdings, the titanium dioxide manufacturer and distributor in China, reported a modest net profit of RMB 866,000 ($168,243) for the three months ended December 31, 2010 (1QFY2011) compared to a loss of RMB 3.4 million for the same corresponding period (1QFY2010).
This was achieved on the back of a significant improvement in revenue to RMB 36.2 million in 1QFY2011 from RMB 1.2 million in 1QFY2010, with the commencement of the group’s selling and distribution of titanium dioxide in mid-December 2009. In addition, for the period under review, the average selling price of titanium dioxide was RMB11,030 per ton as compared to RMB 9,435 in the previous corresponding period.
Frasers Commercial Trust says gross revenue was for the first quarter ended Dec 31, 2010, was $29 million, 2.3% lower as compared to a year ago.
This was mainly due to lower contribution from Cosmo Plaza as a result of the expiry of a significant tenancy in August 2010.
Correspondingly, net property income was 2.4% lower at $22.9 million.
Frasers Centrepoint Trust has announced a distribution per unit (DPU) of 1.95 cents for 1Q11 (1 Oct to 31 Dec 2010 period).
1Q11 gross revenue grew 19% y-on-y to $27.6 million, aided by the accretive acquisitions of Northpoint 2 and YewTee Point. 1Q11 net property income similarly rose 17% y-on-y to $18.6 million, even though Causeway Point income was affected by planned refurbishment works.
UOB KayHian says the 1Q11 performance was within expectations. It notes, net profit declined 29% on year due to the absence of development earnings after the completion of Sky@eleven in 4Q10.
Singapore Press Holdings today reported net profit attributable to shareholders for the first quarter ended 30 November 2010 (1Q 2011) fell 29.3% y-o-y to $102.3 million.
Profit from the Newspaper and Magazine segment improved by 10.0%, driven by the increase in print advertisement revenue.
Singapore Press Holdings said first-quarter net income fell to $102.3 million from $144.7 million a year earlier. Analysts had expected profit of $103.7 million, based on three estimates compiled by Bloomberg.
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Ezra Holdings, the integrated support and marine services provider in the offshore oil and gas (O&G) sector, reported a 25% year-on-year increase in revenue to US$75.9 million ($98 million), for the first quarter ended 30 November 2010 (1Q FY11).
Ezra says the strong growth in revenue was spurred by two of its divisions: deepwater subsea services and marine services.
WBL Corp’s unit Multi-Fineline Electronix (MFLEX), the provider of high-quality, technologically advanced flexible printed circuit and value-added component assembly solutions to the electronics industry, says it expects to report net sales in the first quarter of $241 million in the first quarter of fiscal 2011 ended Dec 31, 2010, an increase of 5% from net sales of $229.5 million in the same quarter last year.
Gross margin during the first quarter of fiscal 2011 is expected to be 14.2%, compared to 15.9% for the same period in the prior year.
Mainboard-listed Technics Oil and Gas, the full-service integrator of compression systems and process modules for the global offshore oil and gas sector, says net profit attributable to equity holders of the company climbed 62% to $3.21 million for the 3 months ended 31 December 2010 (1QFY2011) from $1.98 million for the 3 months ended 31 December 2009 (1QFY2010).
Market analysts expect local interest rates to stay low, he said, adding that the current levels of borrowing costs reflect global monetary conditions. Food price inflation is a concern, he said.
Medi-Flex says it registered sales revenue of RM29.03 million ($12.08 million) and a profit after tax of RM1.07 million for the first quarter ended Nov 30 2010 (1QFY2011).
In comparison, the group’s 1QFY2010 revenue was RM24.31 million while profit after tax was RM1.79 million.
Mainboard-listed Datapulse Technology, one of the leading total solution providers of CD and DVD services in the Asia Pacific region, reported its first quarter results for the financial year 2011.
For 1Q FY2011, revenue increased by 4.6% from $20.5 million to $21.4 million. The group continued to enjoy the usual higher level of business activities from year-end orders with the increase in revenue attributed to certain higher value kitting projects undertaken during 1Q FY2011.
China Minzhong Food Corporation announced a 20% rise in its 1Q FY2011 net income to RMB52.4 million ($10.2 million) for the 3 months ended 30 September 2010. Revenue increased 18.4% to RMB264.1 million, underpinned by sales growth across both processed vegetables and fresh vegetables produce segments.
Revenue from processed vegetables increased by 33.2% to RMB111.8 million, on the back of continued strong demand from overseas food manufacturers. Average selling prices for the processed vegetables rose 52.5% as the group shifted towards a portfolio of higher-value processed vegetables.
Mainboard-listed Hai Leck Holdings, the integrated service provider mainly for the Oil & Gas and Petrochemical industries, says for its first quarter 2011 ended 30 September 2010, net profit was $3.3 million, up 5% over the $3.1 million it earned in the preceding corresponding period.
Turnover was $24.4 million compared to the $31.1 million a year back primarily due to lower revenue from Project services as most major projects contracted have been completed or are nearing completion.
Olam (O32.SG) off 0.3% at $3.32 in line with broader market, after 1Q results (net profit +56% on year at $29.7 million), though higher than expected, fail to inspire sustained buying interest (off early $3.36 high), says Dow Jones.
JPMorgan, which has Overweight rating, $3.70 target, views results “largely as a ‘low key event’. Moreover note that on adjusting for commodity financial services segment net income, earnings growth from its ‘core’ business is around 16%.”
Net income advanced to $29.7 million in the three months ended Sept. 30 from $19 million a year earlier, the company said in a statement to the Singapore exchange. Sales gained 31% to $2.45 billion from $1.88 billion.
Net income advanced to $29.7 million in the three months ended Sept. 30 from $19 million a year earlier, the company said in a statement to the Singapore exchange. Sales gained 31% to $2.45 billion from $1.88 billion.
Mainboard-listed Koda, the original design manufacturer, today announced a net profit of US$0.4 million ($0.5 million) for the July-September quarter (1Q11), reversing two consecutive quarters of losses for 3Q10 and 4Q10.
Concurrently, 1Q11 revenue for the home-grown exporter of home furniture for the mid- to upper-end market segments worldwide improved by 15.4% or US$1.6 million over 4Q10 to US$11.8 million, driven mainly by the US market which accounted for about 46% of Koda’s revenue.
Similarly 1Q11 gross profit rose 14.5% to US$3.1 million from US$2.7 million in 4Q10 while gross profit margin remained relatively stable at 26%.
Koda’s Managing Director James Koh Jyh Gang says: “Although we are not out of the woods yet, we are encouraged by our return to profitability this quarter. While average order size remains small and delivery times are shorter, the continuity in orders in the last few quarters means that our core business fundamentals are intact.”
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