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Stocks to watch: Far East H-Trust, SingPost, SIAEC, China Minzhong, Penguin Int'l

Tuesday, November 3, 2015 - 09:00

THE following companies released their results either before the start of trading on Tuesday or after the market closed on Monday.

FAR East Hospitality Trust (Far East H-Trust) posted a lower distribution per stapled security (DPSS) of 1.2 Singapore cents for the third quarter ended Sept 30, down from 1.32 cents a year ago.

For the quarter under review, gross revenue slipped 4.8 per cent year on year to S$29.66 million on the back of lower revenue from its hotels and serviced residences. This comes as corporate travel has softened, while the strong Singapore dollar and persistent haze are causing leisure demand to weaken.

Net property income fell 4.6 per cent to S$26.89 million, also due to the decline in hotel and serviced residences revenue.

Meanwhile, income available for distribution slumped 8 per cent to S$21.57 million in line with lower revenue and higher finance costs.


Singapore Post (SingPost) reported a 4.8 per cent drop in net profit in the second quarter ended Sept 30, to S$37.54 million, from S$39.43 million one year ago. Revenue rose 19.4 per cent to S$263.17 million from S$220.34 million a year ago.

Earnings per share (EPS) for the quarter was 2.31 Singapore cents, up from 1.63 cents. The company declared an interim dividend of 1.5 cents per share. For the half-year period, SingPost's net profit was up 1.4 per cent to S$77.83 million while revenue was up 20.1 per cent to S$517.78 million from S$431.26 million one year ago.


SIA Engineering Company's (SIAEC) Q2 net profit rose 5.7 per cent year on year to S$44.5 million for the three months ended Sept 30, lifted in part by lower expenses. Earnings per share (EPS) clocked 3.96 Singapore cents, up from 3.75 Singapore cents the previous year. The increase was achieved despite a 6.7 per cent drop in turnover to S$266 million from the previous year. The group said that the drop was due to lower airframe and component overhaul and fleet management revenue, adding that contributions from its engine repair and overhaul centres had plummeted 41.5 per cent to S$11.7 million.


CHINA Minzhong Food Corp turned in a net profit of 15.5 million yuan (S$1.2 million) for the three months ended Sept 30, down about 73 per cent, dragged down by higher exchange losses. Revenue dipped 4 per cent year on year to 467.7 million yuan, due partly to its beverage business as the slowing economy and lower spend on advertising and promotion hit revenue from that business segment.


Penguin International's third-quarter profit grew 49.6 per cent to S$12 million after the ferry operator sold some vessels. Q3 revenue from continuing operations declined by 7.2 per cent to S$48.3 million as shipbuilding activity slowed down, although chartering activity picked up. The bottom line got a boost from other operating income, which jumped to S$4.2 million from a year-ago S$194,000 largely because of gains from the sale of vessels.

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