Straits Trading's Q4 and FY16 profits surge on better segments, share of associates' results

THE Straits Trading Company, a diversified investment company with interests in real estate, hospitality and resources, on Tuesday reported almost a doubling in its fourth quarter net profit to S$21.3 million.

This, as all its business segments recorded improved performances. Share of results of associates and joint ventures also helped lift earnings.

Earnings per share for the three months as at end-December 2016 came in at 5.2 Singapore cents, up 87.9 per cent year on year.

Revenue in Q4 was down 5.3 per cent to S$120.1 million, dragged by a decline in its revenue from tin mining and smelting.

For the full year, revenue slipped 4.9 per cent to S$513.5 million, while net profit surged to S$67.3 million from S$8.5 million a year ago.

Net asset value per share as at end-December 2016 was S$3.34, up from S$3.18 in FY15, while balance sheet remained robust with cash and cash equivalents of S$291.1 million and net debt to total equity of 22.5 per cent.

The group has declared an interim dividend of six Singapore cents per share for FY16, up from four cents a share a year ago.